CIM Commercial Trust (NASDAQ:CMCT) Share Price Crosses Below 50 Day Moving Average of $14.51

CIM Commercial Trust Corp (NASDAQ:CMCT) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.51 and traded as low as $14.31. CIM Commercial Trust shares last traded at $14.36, with a volume of 636 shares changing hands.

A number of research analysts have commented on the company. ValuEngine raised CIM Commercial Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TheStreet lowered CIM Commercial Trust from a “b-” rating to a “c+” rating in a research report on Thursday, September 12th. Finally, BidaskClub lowered CIM Commercial Trust from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th.

The firm has a 50-day moving average price of $14.50 and a 200-day moving average price of $17.94. The company has a debt-to-equity ratio of 3.24, a current ratio of 4.34 and a quick ratio of 4.34.

In other news, major shareholder Cim Service Provider, Llc bought 2,468,390 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was purchased at an average price of $19.17 per share, with a total value of $47,319,036.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Andrew Thompson bought 7,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $14.39 per share, with a total value of $107,925.00. Following the transaction, the chief executive officer now directly owns 7,500 shares in the company, valued at approximately $107,925. The disclosure for this purchase can be found here. Insiders bought a total of 2,489,397 shares of company stock valued at $47,618,083 in the last three months. Corporate insiders own 90.87% of the company’s stock.

Several large investors have recently made changes to their positions in CMCT. JPMorgan Chase & Co. raised its position in shares of CIM Commercial Trust by 284.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,497 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,108 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of CIM Commercial Trust by 94.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,177 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of CIM Commercial Trust by 56.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,195 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,150 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of CIM Commercial Trust in the 3rd quarter worth approximately $88,000. Finally, Morgan Stanley grew its stake in shares of CIM Commercial Trust by 4,484.5% in the 2nd quarter. Morgan Stanley now owns 5,318 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 5,202 shares during the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

CIM Commercial Trust Company Profile (NASDAQ:CMCT)

CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States. Its properties are primarily located in Los Angeles, the San Francisco Bay Area and Washington, DC CIM Commercial is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities.

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