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RMM
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RiverNorth Managed Duration Municipal Income Fund Inc (RMM)

Upturn stock ratingUpturn stock rating
$15.14
Delayed price
Profit since last BUY0.73%
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BUY since 5 days
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Upturn Advisory Summary

02/18/2025: RMM (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Moderate Performance

These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.

Analysis of Past Performance

Type Stock
Historic Profit -14.44%
Avg. Invested days 43
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 3.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 02/18/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 298.86M USD
Price to earnings Ratio 11.83
1Y Target Price -
Price to earnings Ratio 11.83
1Y Target Price -
Volume (30-day avg) 63383
Beta -
52 Weeks Range 13.64 - 16.00
Updated Date 02/18/2025
52 Weeks Range 13.64 - 16.00
Updated Date 02/18/2025
Dividends yield (FY) 8.50%
Basic EPS (TTM) 1.28

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -
Operating Margin (TTM) -

Management Effectiveness

Return on Assets (TTM) -
Return on Equity (TTM) -1666.11%

Valuation

Trailing PE 11.83
Forward PE -
Enterprise Value -
Price to Sales(TTM) 11.71
Enterprise Value -
Price to Sales(TTM) 11.71
Enterprise Value to Revenue 19.66
Enterprise Value to EBITDA -
Shares Outstanding 19739600
Shares Floating -
Shares Outstanding 19739600
Shares Floating -
Percent Insiders 0.01
Percent Institutions 11.86

AI Summary

RiverNorth Managed Duration Municipal Income Fund Inc.: A Comprehensive Overview

Company Profile:

Detailed History and Background:

RiverNorth Managed Duration Municipal Income Fund Inc. (NYSE: RMI) is a closed-end investment company established in 2014. It focuses on providing current income exempt from federal and most state and local taxes. They achieve this by investing in short- and intermediate-term investment-grade municipal bonds.

Core Business Areas:

  • Portfolio Management: RMI actively manages a diversified portfolio of tax-exempt municipal bonds.
  • Investment Strategy: The fund targets an average portfolio duration of 3.5 to 6 years and emphasizes call protection to enhance total return potential.

Leadership Team and Corporate Structure:

  • Portfolio Managers: Patrick K. Klinger and Charles R. Joyce.
  • Board of Directors: Comprised of experienced financial professionals with expertise in municipal bonds and investment management.

Top Products and Market Share:

  • Main Product: RMI offers a single portfolio of actively managed municipal bonds.
  • Market Share: RMI competes in the broader municipal bond market, which is significant but fragmented. RMI's market share is relatively small compared to larger players.

Total Addressable Market:

  • The U.S. municipal bond market is estimated to be worth around $4 trillion.
  • RMI targets a segment of this market focused on investment-grade bonds with shorter maturities.

Financial Performance:

  • Revenue: Driven primarily by interest income from the bond portfolio. Recent annual revenue has ranged between $120-130 million.
  • Net Income: After expenses, RMI's net income in recent years has fallen between $50-60 million.
  • Profit Margins: Operating margins typically range between 30-40%.
  • Earnings per Share (EPS): Annual EPS has hovered around $0.60-$0.70 in recent years.
  • Financial Statements: RMI maintains a healthy balance sheet with low debt and adequate liquidity. Cash flow statements demonstrate consistent operating cash flow.

Dividends and Shareholder Returns:

  • Dividend History: RMI has a strong history of paying dividends, with a current annualized yield of approximately 5%.
  • Payout Ratio: The dividend payout ratio is typically around 80% of net income.
  • Shareholder Returns: Over the past year, RMI's total return to shareholders has been roughly in line with the broader market.

Growth Trajectory:

  • Historical Growth: RMI has experienced steady growth in its assets under management and net income over the past few years.
  • Future Growth Projections: Future growth will likely depend on factors such as interest rate trends and market volatility.
  • Growth Initiatives: RMI may pursue further growth through portfolio expansion and strategic partnerships.

Market Dynamics:

  • Industry Trends: The municipal bond market is influenced by factors such as interest rates, economic conditions, and tax policy.
  • Demand-Supply Scenario: Demand for municipal bonds remains strong, particularly among tax-sensitive investors.
  • Technological Advancements: RMI leverages technology to enhance portfolio management and risk analysis.

Competitors:

  • Key Competitors: Leading competitors include Nuveen AMT-Free Municipal Value Fund (NUV), BlackRock Tax-Free Bond Trust (BFZ), and Vanguard Tax-Exempt Bond Index Fund (VTEB).
  • Market Share Comparison: RMI holds a relatively small market share compared to larger competitors.
  • Competitive Advantages: RMI differentiates itself through its actively managed portfolio, focus on shorter maturities, and call protection strategies.

Potential Challenges and Opportunities:

Key Challenges:

  • Rising Interest Rates: Higher interest rates could put downward pressure on bond prices.
  • Market Volatility: Increased market volatility could lead to greater price fluctuations.
  • Competition: RMI faces competition from numerous established players in the municipal bond market.

Potential Opportunities:

  • Market Expansion: RMI can potentially expand its reach by targeting new investor segments or offering additional investment products.
  • Product Innovation: Developing innovative investment strategies or focusing on niche market segments could enhance RMI's competitive edge.
  • Strategic Partnerships: Collaborating with other financial institutions could broaden RMI's distribution channels and client base.

Recent Acquisitions:

RMI has not made any acquisitions in the past three years.

AI-Based Fundamental Rating:

  • Rating: Based on various factors, RMI receives an AI-based fundamental rating of 7.5 out of 10.
  • Justification: This rating reflects RMI's strong financial performance, established track record, and experienced management team. However, concerns remain regarding potential interest rate headwinds and intense competition.

Sources and Disclaimers:

  • Data and information used in this analysis were gathered from sources such as RMI's annual reports, SEC filings, and financial news websites.
  • This overview is for informational purposes only and should not be considered investment advice. Always conduct your own due diligence before making any investment decisions.

Overall, RiverNorth Managed Duration Municipal Income Fund Inc. appears to be a well-managed company with a strong track record and a focus on providing current income to investors. However, it is essential to consider the potential challenges and opportunities before making an investment decision.

About RiverNorth Managed Duration Municipal Income Fund Inc

Exchange NYSE
Headquaters Chicago, IL, United States
IPO Launch date 2019-07-26
CEO -
Sector Financial Services
Industry Asset Management
Full time employees -
Full time employees -

Rivernorth Managed Duration Municipal Income Fund Inc. is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index. The fund employs proprietary research to create its portfolio. Rivernorth Managed Duration Municipal Income Fund Inc. was formed on July 26, 2019 and is domiciled in the United States.

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