Allspring Global Investments Holdings LLC trimmed its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 85.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,199 shares of the company's stock after selling 2,477,357 shares during the period. Allspring Global Investments Holdings LLC owned 0.38% of New Mountain Finance worth $4,516,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of New Mountain Finance by 1,929.2% in the fourth quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after acquiring an additional 937,331 shares during the period. Ares Management LLC boosted its holdings in shares of New Mountain Finance by 15.2% in the fourth quarter. Ares Management LLC now owns 566,186 shares of the company's stock worth $6,375,000 after acquiring an additional 74,492 shares during the period. Millennium Management LLC boosted its holdings in shares of New Mountain Finance by 102.2% in the fourth quarter. Millennium Management LLC now owns 519,532 shares of the company's stock worth $5,850,000 after acquiring an additional 262,631 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of New Mountain Finance by 2.1% in the first quarter. Confluence Investment Management LLC now owns 438,682 shares of the company's stock worth $4,839,000 after acquiring an additional 8,876 shares during the period. Finally, Transcend Capital Advisors LLC bought a new position in shares of New Mountain Finance in the first quarter worth $4,674,000. 32.08% of the stock is owned by institutional investors.
New Mountain Finance Price Performance
Shares of NMFC stock traded down $0.05 on Wednesday, reaching $10.61. The company's stock had a trading volume of 295,326 shares, compared to its average volume of 470,054. 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 Corporation has a 12-month low of $8.84 and a 12-month high of $12.55. The company has a market capitalization of $1.14 billion, a P/E ratio of 10.61 and a beta of 0.80. The stock's 50 day simple moving average is $10.55 and its 200-day simple moving average is $10.84.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results 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 10.57% and a net margin of 29.84%. The business had revenue of $85.66 million for the quarter, compared to the consensus estimate of $86.65 million. During the same quarter last year, the business posted $0.36 earnings per share. The company's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a yield of 12.06%. New Mountain Finance's payout ratio is 128.00%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on NMFC. B. Riley began coverage on New Mountain Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th.
View Our Latest Report on NMFC
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.
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