Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Falls 10.4% – What’s Next?

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB)’s stock price was down 10.4% during mid-day trading on Monday. The stock traded as low as $0.6860 and last traded at $0.7080. 70,823 shares were traded during mid-day trading, an increase of 178% from the average session volume of 25,437 shares. The stock had previously closed at $0.79.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Investcorp Credit Management BDC presently has an average 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 stock has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $1.18. The company has a market capitalization of $9.74 million, a price-to-earnings ratio of -0.48 and a beta of 0.68.

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

Institutional Investors Weigh In On Investcorp Credit Management BDC

Several large investors have recently added to or reduced their stakes in ICMB. Bulldog Investors LLP lifted its stake in Investcorp Credit Management BDC by 7.7% in the first 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 last quarter. Alpine Global Management LLC purchased a new stake in Investcorp Credit Management BDC during the 4th quarter valued at $71,000. Susquehanna International Group LLP purchased a new stake in Investcorp Credit Management BDC in the second quarter worth about $45,000. Squarepoint Ops LLC bought a new stake in Investcorp Credit Management BDC during the second quarter valued at about $34,000. Finally, North Ground Capital purchased a new position in shares of Investcorp Credit Management BDC in the second quarter worth $32,760. Institutional investors and hedge funds own 7.76% of the company’s stock.

About Investcorp Credit Management BDC

Investcorp Credit Management BDC, Inc is a business development company that provides financing to privately held, middle-market companies. The company seeks to generate income primarily through investments in debt securities, while also pursuing potential capital appreciation through equity and equity-related investments.

Its investment portfolio may include senior secured, first-lien and unitranche loans, as well as second-lien debt and other subordinated securities. Investcorp Credit Management BDC generally focuses on companies that may require customized financing for acquisitions, recapitalizations, growth initiatives, refinancings and other corporate purposes.

The company is externally managed by Investcorp Credit Management LLC, an affiliate of Investcorp, a global alternative investment firm.