Investcorp Credit Management BDC (NASDAQ:ICMB) Trading Down 3.8% – Here’s Why

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) traded down 3.8% during mid-day trading on Thursday . The company traded as low as $0.8202 and last traded at $0.8591. 38,193 shares changed hands during trading, a decline of 76% from the average session volume of 160,918 shares. The stock had previously closed at $0.8934.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Investcorp Credit Management BDC in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Investcorp Credit Management BDC Trading Down 0.7%

The company has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.97. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $12.32 million, a P/E ratio of -0.62 and a beta of 0.58.

Hedge Funds Weigh In On Investcorp Credit Management BDC

Several institutional investors have recently modified their holdings of the business. Bulldog Investors LLP grew its position in shares of Investcorp Credit Management BDC by 7.7% in the 1st quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock valued at $967,000 after purchasing an additional 42,583 shares during the period. Alpine Global Management LLC acquired a new stake in Investcorp Credit Management BDC during the 4th quarter worth approximately $71,000. Finally, North Ground Capital bought a new position in Investcorp Credit Management BDC in the fourth quarter valued at approximately $147,000. Institutional investors own 7.76% of the company’s stock.

About Investcorp Credit Management BDC

Investcorp Credit Management BDC Inc (NASDAQ: ICMB) is a closed-end, non-diversified management investment company that provides investors exposure to private credit markets through direct lending strategies. As a business development company, ICMB focuses on originating, structuring and managing tailored financing solutions for U.S. middle-market corporations. The company’s portfolio includes senior secured loans, second-lien debt, subordinated debt and equity co-investments, with an emphasis on risk-adjusted returns and capital preservation.

The company is externally managed by Investcorp Credit Management US LLC, part of the Investcorp group, a global alternative investment firm founded in 1982.