Lansforsakringar Fondforvaltning AB publ Invests $361,000 in New Mountain Finance Corporation $NMFC

Key Points

• Lansforsakringar Fondforvaltning AB acquired 32,764 shares of New Mountain Finance Corporation valued at approximately $361,000 during the first quarter.
• New Mountain Finance announced a quarterly dividend of $0.32 per share, representing an annual yield of 12.0% and a payout ratio of 168.42%.
• The company currently has a market cap of $1.13 billion and analysts have given it an average rating of "Hold" with a price target of approximately $10.75.

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 32,764 shares of the company's stock, valued at approximately $361,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in New Mountain Finance by 240.4% during the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock worth $84,000 after purchasing an additional 5,288 shares during the period. Entropy Technologies LP purchased a new stake in New Mountain Finance during the 1st quarter worth $130,000. Vise Technologies Inc. boosted its position 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 purchasing an additional 1,110 shares during the period. ProShare Advisors LLC boosted its position in New Mountain Finance by 17.2% during the 4th quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock worth $204,000 after purchasing an additional 2,664 shares during the period. Finally, Focus Partners Wealth purchased a new stake in New Mountain Finance during the 4th quarter worth $236,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Stock Up 0.9%

Shares of New Mountain Finance stock traded up $0.10 during trading hours on Thursday, hitting $10.64. 293,732 shares of the company's stock traded hands, compared to its average volume of 467,834. The stock has a 50 day simple moving average of $10.52 and a 200-day simple moving average of $10.59. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The company has a market cap of $1.13 billion, a PE ratio of 14.00 and a beta of 0.80. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.36.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $83.49 million during 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 period last year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend 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 presently 168.42%.

Analyst Upgrades and Downgrades

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

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.