Investcorp Credit Management BDC (NASDAQ:ICMB) Trading Down 11.4% – Should You Sell?

Shares of Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) were down 11.4% during trading on Wednesday . The stock traded as low as $1.78 and last traded at $1.78. Approximately 57,465 shares were traded during trading, a decline of 12% from the average daily volume of 65,173 shares. The stock had previously closed at $2.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Investcorp Credit Management BDC in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Investcorp Credit Management BDC Trading Up 1.1%

The firm has a market cap of $27.11 million, a PE ratio of -3.03 and a beta of 0.62. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 2.01. The company’s 50 day moving average price is $2.22 and its two-hundred day moving average price is $2.62.

Investcorp Credit Management BDC (NASDAQ:ICMB) last announced its earnings results on Monday, March 30th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). Investcorp Credit Management BDC had a negative net margin of 50.86% and a positive return on equity of 2.64%. The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $4.22 million.

Institutional Investors Weigh In On Investcorp Credit Management BDC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC purchased a new stake in shares of Investcorp Credit Management BDC in the fourth quarter valued at $71,000. North Ground Capital purchased a new stake in shares of Investcorp Credit Management BDC in the fourth quarter valued at $147,000. Finally, Bulldog Investors LLP increased its stake in Investcorp Credit Management BDC by 45.8% in the 3rd quarter. Bulldog Investors LLP now owns 522,752 shares of the company’s stock worth $1,453,000 after buying an additional 164,281 shares during the period. Hedge funds and other 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.