BI Asset Management Fondsmaeglerselskab A S raised its position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 345.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,987 shares of the company's stock after purchasing an additional 74,433 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of New Mountain Finance worth $1,081,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in New Mountain Finance during the third quarter valued at approximately $375,000. Strategic Financial Concepts LLC purchased a new stake in shares of New Mountain Finance during the 4th quarter valued at $208,000. Rockingstone Advisors LLC lifted its holdings in shares of New Mountain Finance by 79.1% during the 4th quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company's stock worth $3,177,000 after acquiring an additional 124,599 shares during the last quarter. Raymond James Financial Inc. purchased a new position in New Mountain Finance in the fourth quarter worth $944,000. Finally, Union Bancaire Privee UBP SA bought a new position in New Mountain Finance in the fourth quarter valued at $309,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
New Mountain Finance Trading Up 0.5 %
NASDAQ:NMFC traded up $0.06 during trading hours on Monday, reaching $10.19. The company's stock had a trading volume of 92,892 shares, compared to its average volume of 468,995. 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 firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.70 and a beta of 0.84. The firm has a 50-day simple moving average of $10.70 and a 200-day simple moving average of $11.21. New Mountain Finance Co. has a 1 year low of $8.84 and a 1 year high of $12.81.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. Research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.
New Mountain Finance Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 12.57%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio is 123.08%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price target on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company dropped 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.
Check Out Our Latest Report on NMFC
Insider Buying and Selling
In other news, Director David Ogens purchased 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.71% of the stock is owned by insiders.
About New Mountain Finance
(
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.
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