Fox Run Management L.L.C. Raises Holdings in New Mountain Finance Corporation $NMFC

Key Points

• Fox Run Management L.L.C. significantly increased its holdings in New Mountain Finance Corporation, acquiring an additional 30,011 shares, bringing its total to 40,117 shares valued at approximately $442,000.
• The company announced a quarterly dividend of $0.32 per share, translating to an annual yield of 12.3%, with the dividend payable on September 30th.
• New Mountain Finance's recent earnings report showed earnings per share of $0.32, matching analysts' expectations, while total revenue for the quarter was $83.49 million, slightly under the forecast of $84.57 million.

Fox Run Management L.L.C. raised its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 297.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,117 shares of the company's stock after buying an additional 30,011 shares during the quarter. Fox Run Management L.L.C.'s holdings in New Mountain Finance were worth $442,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Merit Financial Group LLC boosted its stake in shares of New Mountain Finance by 0.4% in the first quarter. Merit Financial Group LLC now owns 260,572 shares of the company's stock valued at $2,874,000 after purchasing an additional 1,052 shares during the period. Vise Technologies Inc. lifted its holdings in New Mountain Finance by 7.2% during the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock worth $186,000 after buying an additional 1,110 shares in the last quarter. Lido Advisors LLC boosted its position in New Mountain Finance by 2.7% in the 4th quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock valued at $513,000 after buying an additional 1,199 shares during the period. Sei Investments Co. grew its stake in shares of New Mountain Finance by 1.3% in the first quarter. Sei Investments Co. now owns 96,603 shares of the company's stock worth $1,082,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of 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 acquiring an additional 2,450 shares during the period. Hedge funds and other institutional investors own 32.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NMFC. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the company a "market perform" rating in a report on Wednesday, August 6th. Wells Fargo & Company lowered 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. Finally, 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 target price for the company. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.75.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC traded up $0.02 during midday trading on Friday, hitting $10.39. The company had a trading volume of 413,282 shares, compared to its average volume of 468,447. The business has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $10.65. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.67 and a beta of 0.82. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.44.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. 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 10.43% and a net margin of 23.27%.The business had revenue of $83.49 million during the quarter, compared to analysts' expectations of $84.57 million. During the same quarter last year, the business posted $0.36 earnings per share. Equities research analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Dividend Announcement

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

New Mountain Finance 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.