Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Jumps 4.4% – Here’s Why

Shares of Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) were up 4.4% during mid-day trading on Monday. The company traded as high as $0.86 and last traded at $0.7305. 885,210 shares traded hands during trading, an increase of 1,429% from the average session volume of 57,876 shares. The stock had previously closed at $0.70.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Investcorp Credit Management BDC currently has a consensus rating of “Sell”.

Investcorp Credit Management BDC Stock Performance

The company has a debt-to-equity ratio of 2.20, a current ratio of 7.28 and a quick ratio of 7.28. The business has a 50-day moving average of $0.80 and a 200-day moving average of $1.55. The company has a market capitalization of $10.54 million, a P/E ratio of -0.51 and a beta of 0.68.

Investcorp Credit Management BDC (NASDAQ:ICMB) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Investcorp Credit Management BDC had a negative net margin of 134.21% and a positive return on equity of 0.86%. The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $4.70 million.

Hedge Funds Weigh In On Investcorp Credit Management BDC

A number of large investors have recently made changes to their positions in ICMB. North Ground Capital purchased a new position in shares of Investcorp Credit Management BDC during the 2nd quarter worth about $32,760. Squarepoint Ops LLC bought a new position in Investcorp Credit Management BDC during the 2nd quarter valued at about $34,000. Susquehanna International Group LLP purchased a new stake in Investcorp Credit Management BDC in the 2nd quarter worth about $45,000. Finally, Bulldog Investors LLP raised its position in Investcorp Credit Management BDC by 7.7% in the 1st quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock worth $967,000 after purchasing an additional 42,583 shares during the period. 7.76% of the stock is owned by hedge funds and other institutional investors.

About Investcorp Credit Management BDC

Investcorp Credit Management BDC, Inc (NASDAQ: ICMB) is a business development company that provides financing to privately held, middle-market companies in the United States. The company seeks to generate income primarily through investments in debt securities, while also pursuing opportunities for long-term capital appreciation.

Its investment portfolio may include senior secured first-lien and second-lien loans, subordinated debt, mezzanine financing and, in some cases, equity-related investments.