Corient Private Wealth LP Buys 254,361 Shares of New Mountain Finance Corporation $NMFC

Key Points

• Corient Private Wealth increased its New Mountain Finance stake by 29.2% in the second quarter, adding 254,361 shares to own 1.13 million shares worth approximately $8.1 million. Institutional investors hold 32.08% of the company.
• New Mountain Finance reported quarterly EPS of $0.26, in line with estimates, but revenue of $39.02 million fell well short of the $62.78 million consensus forecast. The stock opened at $7.13, near its 12-month low of $6.73.
• The company declared a quarterly dividend of $0.25 per share, representing a $1.00 annualized payout and an approximately 14% yield. Analysts maintain a generally cautious view, with a consensus “Reduce” rating and an average price target of $8.25.

Corient Private Wealth LP raised its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 29.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,125,657 shares of the company's stock after acquiring an additional 254,361 shares during the period. Corient Private Wealth LP owned approximately 1.19% of New Mountain Finance worth $8,071,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new stake in shares of New Mountain Finance in the first quarter worth approximately $71,000. Catalyst Capital Advisors LLC bought a new position in shares of New Mountain Finance during the 1st quarter worth $93,000. Calton & Associates Inc. bought a new position in shares of New Mountain Finance during the 4th quarter worth $125,000. Rockefeller Capital Management L.P. increased its stake in shares of New Mountain Finance by 218.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,312 shares of the company's stock valued at $141,000 after buying an additional 10,503 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of New Mountain Finance during the first quarter valued at $122,000. Institutional investors own 32.08% of the company's stock.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $7.13 on Friday. The firm's 50 day simple moving average is $7.32 and its 200-day simple moving average is $7.66. New Mountain Finance Corporation has a 12 month low of $6.73 and a 12 month high of $9.98. The stock has a market capitalization of $673.44 million, a price-to-earnings ratio of -15.17 and a beta of 0.57. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.66 and a quick ratio of 3.66.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $39.02 million for the quarter, compared to analyst estimates of $62.78 million. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. During the same quarter last year, the business earned $0.32 earnings per share. Analysts expect that New Mountain Finance Corporation will post 1.1 EPS for the current year.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend is Wednesday, September 16th. New Mountain Finance's payout ratio is presently -212.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of New Mountain Finance in a research report on Thursday, August 13th. Keefe, Bruyette & Woods dropped their price objective on New Mountain Finance from $9.00 to $8.00 and set a "market perform" rating on the stock in a research report on Monday, July 20th. Finally, Wells Fargo & Company lowered their target price on shares of New Mountain Finance from $8.00 to $7.50 and set an "equal weight" rating for the company in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $8.25.

About New Mountain Finance

New Mountain Finance Corporation NASDAQ: NMFC is a business development company that provides financing to middle-market businesses. The company invests primarily in debt securities, including senior secured loans, unitranche loans and subordinated debt, and may also make equity investments. Its investments are generally structured to support acquisitions, recapitalizations, refinancings, growth initiatives and other corporate activities.

New Mountain Finance focuses on companies operating in defensive growth industries, such as business services, healthcare, software and technology, and other sectors it believes have resilient demand and favorable long-term trends.

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