LSV Asset Management Grows Stock Position in New Mountain Finance Corporation (NASDAQ:NMFC)

Key Points

• LSV Asset Management increased its stake in New Mountain Finance Corporation by 14.3%, owning approximately 2.56% of the company valued at $30.5 million.
• New Mountain Finance reported $0.32 earnings per share, consistent with analyst expectations, despite a 5.4% year-over-year revenue decline.
• Several brokerages have reduced their price targets for New Mountain Finance, with Wells Fargo dropping its target from $11.00 to $10.00 and maintaining an "equal weight" rating.

LSV Asset Management lifted its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 14.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,764,111 shares of the company's stock after purchasing an additional 346,508 shares during the period. LSV Asset Management owned 2.56% of New Mountain Finance worth $30,488,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of New Mountain Finance by 240.4% in the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock valued at $84,000 after purchasing an additional 5,288 shares during the period. XTX Topco Ltd acquired a new stake in New Mountain Finance during the fourth quarter worth about $148,000. Vise Technologies Inc. increased its position in New Mountain Finance by 7.2% during the fourth 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 last quarter. ProShare Advisors LLC increased its position 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 during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at about $236,000. Hedge funds and other institutional investors own 32.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. B. Riley assumed 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 for the company. Keefe, Bruyette & Woods reduced their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of 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.

New Mountain Finance Price Performance

NASDAQ:NMFC traded down $0.15 during trading hours on Tuesday, hitting $10.18. The company's stock had a trading volume of 697,814 shares, compared to its average volume of 340,335. The company has a market capitalization of $1.10 billion, a PE ratio of 7.95 and a beta of 0.82. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.44. The business's 50-day moving average is $10.61 and its two-hundred day moving average is $10.77. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.22 and a current ratio of 2.22.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $83.49 million during the quarter, compared to analysts' expectations of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.34%. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts anticipate that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.6%. New Mountain Finance's dividend payout ratio is currently 128.00%.

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.