Allspring Global Investments Holdings LLC Decreases Stake in New Mountain Finance Corporation (NASDAQ:NMFC)

Allspring Global Investments Holdings LLC reduced its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 85.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 407,199 shares of the company's stock after selling 2,477,357 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.38% of New Mountain Finance worth $4,516,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in New Mountain Finance by 240.4% during the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock worth $84,000 after acquiring an additional 5,288 shares during the period. Fox Run Management L.L.C. acquired a new stake in New Mountain Finance during the fourth quarter worth approximately $114,000. Larson Financial Group LLC increased its holdings in New Mountain Finance by 4,746.5% in 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 in the last quarter. MQS Management LLC bought a new stake in New Mountain Finance in the fourth quarter worth approximately $123,000. Finally, XTX Topco Ltd acquired a new position in New Mountain Finance in the fourth quarter valued at approximately $148,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NMFC shares. Keefe, Bruyette & Woods lowered their price objective on shares of 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. B. Riley assumed coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th.

New Mountain Finance Stock Down 1.2%

NASDAQ:NMFC traded down $0.13 on Monday, hitting $10.57. The stock had a trading volume of 556,816 shares, compared to its average volume of 470,974. The company has a market cap of $1.14 billion, a PE ratio of 10.57 and a beta of 0.80. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.55. The business's fifty day moving average is $10.51 and its 200 day moving average is $10.85. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.32.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $85.66 million for the quarter, compared to analysts' expectations of $86.65 million. New Mountain Finance had a return on equity of 10.57% and a net margin of 29.84%. New Mountain Finance's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, equities research analysts expect that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.11%. The ex-dividend date was Monday, June 16th. New Mountain Finance's dividend payout ratio is currently 128.00%.

New Mountain Finance Company 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.