Oppenheimer Remains a Hold on CM Finance

By Austin Angelo

In a report released today, Chris Kotowski from Oppenheimer reiterated a Hold rating on CM Finance (NASDAQ: CMFN). The company’s shares closed last Friday at $10.20.

Kotowski observed:

“CMFN reported F3Q17 net investment income per share of $0.25, largely in line with our estimate of $0.24 and covering the $0.25 dividend. While some BDCs experienced high prepayments and shrinking portfolio during the quarter, CMFN had net investments of $21M. However, so far in F4Q17 the company received $25.4M in repayments and sales but only made $15.8M in new investments. It is relatively impactful to CMFN which only has 19 issuers currently. Given that oil price has stabilized, NAV increased gradually from $11.86 in F1Q17 to $12.13 in F2Q17 and $12.32 in F3Q17.”

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 9.0% and a 68.4% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Fidus Investment Corporation, and Solar Senior Capital Ltd.

CM Finance has an analyst consensus of Hold.

CM Finance’s market cap is currently $139.6M and has a P/E ratio of 6.14. The company has a book value ratio of 0.8280.

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CM Finance, Inc. operates as a closed-end and non-diversified management investment company, which engages in business development. Its investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company was founded on May 24, 2013 and is headquartered in New York, NY.