New Mountain Finance Corporation $NMFC Position Increased by Invesco Ltd.

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. grew its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,091,476 shares of the company's stock after buying an additional 105,559 shares during the quarter. Invesco Ltd. owned about 1.01% of New Mountain Finance worth $12,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Privium Fund Management UK Ltd acquired a new position in shares of New Mountain Finance during the first quarter valued at approximately $499,000. LSV Asset Management lifted its holdings in shares of New Mountain Finance by 14.3% in the first quarter. LSV Asset Management now owns 2,764,111 shares of the company's stock valued at $30,488,000 after buying an additional 346,508 shares during the period. First National Trust Co boosted its stake in New Mountain Finance by 2.9% during the first quarter. First National Trust Co now owns 169,359 shares of the company's stock valued at $1,868,000 after buying an additional 4,780 shares in the last quarter. Mackenzie Financial Corp bought a new position in New Mountain Finance during the first quarter valued at about $374,000. Finally, LPL Financial LLC grew its holdings in New Mountain Finance by 5.3% during the first quarter. LPL Financial LLC now owns 184,034 shares of the company's stock worth $2,030,000 after acquiring an additional 9,260 shares during the period. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Trading Up 0.4%

NASDAQ NMFC traded up $0.04 on Wednesday, hitting $10.46. 189,646 shares of the company were exchanged, compared to its average volume of 467,559. The company's 50 day moving average price is $10.49 and its 200-day moving average price is $10.64. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.76 and a beta of 0.82. 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 posted its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $83.49 million for the quarter, compared to the consensus estimate of $84.57 million. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.During the same quarter in the previous year, the company earned $0.36 EPS. Analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.2%. New Mountain Finance's dividend payout ratio is currently 168.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports 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 on the stock. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, New Mountain Finance currently has a consensus rating of "Hold" and a consensus price target 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.