LSV Asset Management Has $30.49 Million Stake 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 boosted its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,764,111 shares of the company's stock after acquiring an additional 346,508 shares during the quarter. LSV Asset Management owned about 2.56% of New Mountain Finance worth $30,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in New Mountain Finance by 1,929.2% in the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after acquiring an additional 937,331 shares during the period. Ares Management LLC boosted its holdings in New Mountain Finance by 15.2% in the 4th quarter. Ares Management LLC now owns 566,186 shares of the company's stock worth $6,375,000 after acquiring an additional 74,492 shares during the period. Millennium Management LLC boosted its holdings in New Mountain Finance by 102.2% in the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company's stock worth $5,850,000 after acquiring an additional 262,631 shares during the period. Confluence Investment Management LLC boosted its holdings in New Mountain Finance by 2.1% in the 1st quarter. Confluence Investment Management LLC now owns 438,682 shares of the company's stock worth $4,839,000 after acquiring an additional 8,876 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in New Mountain Finance in the 1st quarter worth approximately $4,674,000. Hedge funds and other institutional investors own 32.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NMFC. Wells Fargo & Company reduced their target price on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. B. Riley started coverage on New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective on the stock. Finally, Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the stock a "market perform" rating in a research note on Wednesday.

New Mountain Finance Stock Performance

Shares of NMFC traded up $0.15 during trading hours on Thursday, reaching $10.20. 429,496 shares of the company's stock traded hands, compared to its average volume of 472,351. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 2.22. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.44. The business's fifty day simple moving average is $10.58 and its two-hundred day simple moving average is $10.76.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released 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 firm had revenue of $83.49 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.36 earnings per share. Analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Dividend Announcement

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