New Mountain Finance Co. (NASDAQ:NMFC) Shares Bought by Ares Management LLC

Ares Management LLC lifted its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,186 shares of the company's stock after purchasing an additional 74,492 shares during the period. New Mountain Finance comprises approximately 0.0% of Ares Management LLC's holdings, making the stock its 24th biggest holding. Ares Management LLC owned 0.52% of New Mountain Finance worth $6,375,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new position in shares of New Mountain Finance during the fourth quarter valued at approximately $114,000. MQS Management LLC acquired a new position in New Mountain Finance during the fourth quarter worth approximately $123,000. Larson Financial Group LLC raised its stake in New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock worth $123,000 after purchasing an additional 10,727 shares during the period. New World Advisors LLC purchased a new stake in shares of New Mountain Finance during the 4th quarter valued at $147,000. Finally, XTX Topco Ltd acquired a new stake in shares of New Mountain Finance during the 4th quarter worth $148,000. Institutional investors and hedge funds own 32.08% of the company's stock.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens acquired 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired 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 $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company cut their price objective on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods cut their target price on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.

New Mountain Finance Stock Up 3.3 %

NASDAQ:NMFC traded up $0.33 during mid-day trading on Tuesday, reaching $10.09. The stock had a trading volume of 537,385 shares, compared to its average volume of 470,509. The stock's 50 day simple moving average is $10.46 and its two-hundred day simple moving average is $11.14. New Mountain Finance Co. has a 1-year low of $8.84 and a 1-year high of $12.78. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.60 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $85.66 million for the quarter, compared to analyst estimates of $86.65 million. During the same period in the prior year, the company posted $0.36 EPS. The business's revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 12.69%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is 123.08%.

New Mountain Finance Profile

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.