Dimension Capital Management LLC decreased its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 895,862 shares of the company's stock after selling 170,269 shares during the quarter. New Mountain Finance accounts for approximately 1.6% of Dimension Capital Management LLC's holdings, making the stock its 12th largest position. Dimension Capital Management LLC owned approximately 0.83% of New Mountain Finance worth $10,087,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of NMFC. BNP Paribas Financial Markets boosted its stake in New Mountain Finance by 240.4% during the fourth quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock valued at $84,000 after buying an additional 5,288 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $114,000. MQS Management LLC acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $123,000. Larson Financial Group LLC raised its holdings in shares of 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 valued at $123,000 after acquiring an additional 10,727 shares during the period. Finally, New World Advisors LLC acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $147,000. Institutional investors own 32.08% of the company's stock.
Insider Buying and Selling
In related news, Director David Ogens bought 5,000 shares of New Mountain Finance stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This trade represents a 2.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.71% of the stock is currently owned by corporate insiders.
New Mountain Finance Stock Performance
Shares of NMFC stock traded up $0.12 during trading on Tuesday, reaching $10.80. The company had a trading volume of 175,373 shares, compared to its average volume of 474,481. The firm's 50 day simple moving average is $10.35 and its two-hundred day simple moving average is $11.09. 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 Co. has a one year low of $8.84 and a one year high of $12.65. The company has a market capitalization of $1.16 billion, a PE ratio of 10.29 and a beta of 0.85.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $86.65 million. During the same period last year, the business earned $0.36 EPS. The firm's revenue was down 5.4% compared to the same quarter last year. Sell-side analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 11.85%. The ex-dividend date is Monday, June 16th. New Mountain Finance's dividend payout ratio is 128.00%.
Analysts Set New Price Targets
A number of equities research analysts have commented on NMFC shares. Wells Fargo & Company decreased their price objective 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. Keefe, Bruyette & Woods decreased their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, B. Riley started coverage on New Mountain Finance in a research report on Tuesday. They set a "neutral" rating and a $11.00 price objective for the company.
Get Our Latest Stock Report on NMFC
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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