Mackenzie Financial Corp Acquires Shares of 33,890 New Mountain Finance Corporation (NASDAQ:NMFC)

Key Points

• Mackenzie Financial Corp has acquired a new stake in New Mountain Finance Corporation (NASDAQ: NMFC), purchasing 33,890 shares valued at approximately $374,000 during the first quarter.
• The company's quarterly dividend of $0.32 will be paid on September 30th to investors recorded on September 16th, yielding an annualized return of 12.5%.
• Analyst ratings vary, with Oppenheimer setting a price target of $11.00 and Wells Fargo lowering theirs to $10.00, indicating a cautious outlook on NMFC's performance.

Mackenzie Financial Corp acquired a new position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,890 shares of the company's stock, valued at approximately $374,000.

A number of other hedge funds also recently added to or reduced their stakes in NMFC. BNP Paribas Financial Markets raised its stake 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 valued at $84,000 after buying an additional 5,288 shares during the last quarter. XTX Topco Ltd purchased a new stake in New Mountain Finance during the 4th quarter valued at $148,000. Vise Technologies Inc. raised its stake in New Mountain Finance by 7.2% during the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock valued at $186,000 after buying an additional 1,110 shares during the last quarter. ProShare Advisors LLC raised its stake in New Mountain Finance by 17.2% during the 4th quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock valued at $204,000 after buying an additional 2,664 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in New Mountain Finance during the 4th quarter valued at $236,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NMFC shares. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the company a "market perform" rating in a research report on Wednesday, August 6th. B. Riley started 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 objective for the company. Finally, Wells Fargo & Company cut their price objective 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

New Mountain Finance stock traded down $0.02 during mid-day trading on Monday, hitting $10.23. The stock had a trading volume of 651,270 shares, compared to its average volume of 475,962. The firm has a market capitalization of $1.09 billion, a P/E ratio of 13.46 and a beta of 0.82. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35. The firm's 50 day moving average is $10.56 and its 200 day moving average is $10.73. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.44.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, hitting 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 net margin of 23.27% and a return on equity of 10.43%. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts forecast that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend is Tuesday, September 16th. New Mountain Finance's dividend payout ratio is 168.42%.

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.