Ares Management LLC lifted its position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 566,186 shares of the company's stock after acquiring an additional 74,492 shares during the quarter. New Mountain Finance accounts for 0.0% of Ares Management LLC's portfolio, making the stock its 24th largest position. Ares Management LLC owned about 0.52% of New Mountain Finance worth $6,375,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of New Mountain Finance during the fourth quarter worth $114,000. MQS Management LLC purchased a new position in New Mountain Finance in the 4th quarter worth about $123,000. Larson Financial Group LLC lifted its holdings in New Mountain Finance by 4,746.5% during the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock valued at $123,000 after buying an additional 10,727 shares in the last quarter. New World Advisors LLC purchased a new stake in New Mountain Finance in the 4th quarter valued at about $147,000. Finally, XTX Topco Ltd bought a new position in New Mountain Finance in the 4th quarter worth about $148,000. 32.08% of the stock is owned by hedge funds and other institutional investors.
New Mountain Finance Stock Up 1.8 %
New Mountain Finance stock traded up $0.18 during midday trading on Friday, hitting $9.97. 436,205 shares of the company's stock were exchanged, compared to its average volume of 470,152. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $1.08 billion, a PE ratio of 9.50 and a beta of 0.85. The firm has a 50-day moving average of $10.50 and a two-hundred day moving average of $11.15. New Mountain Finance Co. has a 12 month low of $8.84 and a 12 month high of $12.78.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. As a group, analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.84%. The ex-dividend date of this dividend was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is currently 123.08%.
Analyst Ratings Changes
A number of brokerages recently issued reports on NMFC. Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th.
Get Our Latest Research Report on New Mountain Finance
Insider Activity at New Mountain Finance
In other news, Director David Ogens bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the purchase, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.71% of the stock is owned by corporate insiders.
New Mountain Finance Company Profile
(
Free Report)
New Mountain Finance Corporation Nasdaq: NMFC, a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.
Featured Stories
Before you consider New Mountain Finance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Mountain Finance wasn't on the list.
While New Mountain Finance currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
