BI Asset Management Fondsmaeglerselskab A S Raises Stake in New Mountain Finance Corporation $NMFC

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in New Mountain Finance Corporation by 109% during Q1, owning approximately 200,607 shares valued at $2.21 million.
• Various hedge funds have also增强red their positions in New Mountain Finance, with notable increases from BNP Paribas Financial Markets at 240.4% and Vise Technologies Inc. at 7.2%.
• New Mountain Finance recently announced a quarterly dividend of $0.32 per share, yielding 12.3%, with a payout ratio of 168.42%.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 109.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,607 shares of the company's stock after buying an additional 104,620 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.19% of New Mountain Finance worth $2,213,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Merit Financial Group LLC boosted its stake in New Mountain Finance by 0.4% during the first quarter. Merit Financial Group LLC now owns 260,572 shares of the company's stock worth $2,874,000 after buying an additional 1,052 shares during the period. Vise Technologies Inc. boosted its stake in New Mountain Finance by 7.2% during the fourth quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock worth $186,000 after buying an additional 1,110 shares during the period. Lido Advisors LLC boosted its stake in New Mountain Finance by 2.7% during the fourth quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock worth $513,000 after buying an additional 1,199 shares during the period. Sei Investments Co. boosted its stake in New Mountain Finance by 1.3% during the first quarter. Sei Investments Co. now owns 96,603 shares of the company's stock worth $1,082,000 after buying an additional 1,254 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in New Mountain Finance by 7.9% during the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company's stock worth $371,000 after buying an additional 2,450 shares during the period. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Stock Up 0.2%

Shares of NASDAQ NMFC traded up $0.02 during midday trading on Friday, hitting $10.39. The company's stock had a trading volume of 413,282 shares, compared to its average volume of 468,447. The business's fifty day simple moving average is $10.49 and its two-hundred day simple moving average is $10.65. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. New Mountain Finance Corporation has a 1 year low of $8.84 and a 1 year high of $12.44. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.99 and a beta of 0.82.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The company had revenue of $83.49 million during the quarter, compared to the consensus estimate of $84.57 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a yield of 12.3%. New Mountain Finance's payout ratio is currently 168.42%.

Analysts Set New Price Targets

Several research analysts have recently commented on NMFC shares. B. Riley started coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price objective for the company. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their price objective 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. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, New Mountain Finance has an average rating of "Hold" and a consensus target price of $10.75.

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.