Invesco Ltd. Grows Stake in New Mountain Finance Corporation $NMFC

Key Points

• Invesco Ltd. increased its stake in New Mountain Finance Corporation (NASDAQ: NMFC) by 10.7%, owning approximately 1.01% of the company worth $12,039,000 after acquiring additional shares in the first quarter.
• New Mountain Finance announced a quarterly dividend of $0.32 per share, with a payout ratio of 168.42%, yielding an annualized return of 12.3%.
• The company reported $0.32 EPS for the last quarter, matching analysts' expectations, and had revenue of $83.49 million, slightly below the forecast of $84.57 million.

Invesco Ltd. lifted its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,091,476 shares of the company's stock after acquiring an additional 105,559 shares during the period. Invesco Ltd. owned 1.01% of New Mountain Finance worth $12,039,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of New Mountain Finance by 7.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company's stock worth $371,000 after purchasing an additional 2,450 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of New Mountain Finance by 17.2% during the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock valued at $204,000 after acquiring an additional 2,664 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of New Mountain Finance by 179.7% during the fourth quarter. Squarepoint Ops LLC now owns 40,292 shares of the company's stock valued at $454,000 after acquiring an additional 25,886 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of New Mountain Finance by 232.7% during the fourth quarter. Jane Street Group LLC now owns 104,285 shares of the company's stock valued at $1,174,000 after acquiring an additional 72,944 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of New Mountain Finance by 161.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 124,989 shares of the company's stock valued at $1,407,000 after acquiring an additional 77,141 shares in the last quarter. Institutional investors own 32.08% of the company's stock.

New Mountain Finance Stock Performance

Shares of NMFC stock traded up $0.12 on Friday, reaching $10.66. The stock had a trading volume of 704,865 shares, compared to its average volume of 469,675. The stock has a market cap of $1.13 billion, a P/E ratio of 14.03 and a beta of 0.82. New Mountain Finance Corporation has a 1 year low of $8.84 and a 1 year high of $12.44. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50 day simple moving average of $10.50 and a 200 day simple moving average of $10.62.

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

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.0%. New Mountain Finance's dividend payout ratio (DPR) is currently 168.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NMFC. B. Riley started coverage on New Mountain Finance in a report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price target for the company. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, New Mountain Finance currently has an average rating of "Hold" and an average price target of $10.75.

About New Mountain Finance

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.