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Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) Sees Large Increase in Short Interest

Financial News Live · Sep 27, 2022 21:32

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB – Get Rating) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 18,100 shares, an increase of 570.4% from the August 31st total of 2,700 shares. Based on an average trading volume of 16,000 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered shares of Investcorp Credit Management BDC from a "c-" rating to a "d" rating in a research note on Wednesday, August 3rd.

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Institutional Inflows and Outflows

A hedge fund recently raised its stake in Investcorp Credit Management BDC stock. LPL Financial LLC increased its holdings in Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB – Get Rating) by 601.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,471 shares of the company's stock after acquiring an additional 77,581 shares during the quarter. LPL Financial LLC owned approximately 0.63% of Investcorp Credit Management BDC worth $384,000 as of its most recent SEC filing. 37.43% of the stock is currently owned by institutional investors and hedge funds.

Investcorp Credit Management BDC Price Performance

NASDAQ:ICMB traded down $0.02 during trading hours on Tuesday, hitting $3.74. 50,469 shares of the stock traded hands, compared to its average volume of 23,452. Investcorp Credit Management BDC has a 1 year low of $3.60 and a 1 year high of $5.73. The stock has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.66. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.57. The company has a market cap of $53.81 million, a price-to-earnings ratio of 20.78 and a beta of 1.89.

Investcorp Credit Management BDC (NASDAQ:ICMB – Get Rating) last released its earnings results on Tuesday, September 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Investcorp Credit Management BDC had a net margin of 10.59% and a return on equity of 9.02%. During the same period in the prior year, the firm earned $0.10 EPS. Sell-side analysts forecast that Investcorp Credit Management BDC will post 0.64 EPS for the current fiscal year.

Investcorp Credit Management BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.04%. The ex-dividend date of this dividend is Thursday, September 22nd. Investcorp Credit Management BDC's payout ratio is presently 333.33%.

About Investcorp Credit Management BDC

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Investcorp Credit Management BDC, Inc is a business development company specializing in loan, mezzanine, middle market, growth capital, acquisitions, market/product expansion, organic growth, refinancings and recapitalization investments. It also selectively invests in mezzanine loans/structured equity and in the equity of portfolio companies through warrants and other instruments, in most cases taking such upside participation interests as part of a broader investment relationship.