Millennium Management LLC Acquires 262,631 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Millennium Management LLC increased its stake in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 102.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,532 shares of the company's stock after purchasing an additional 262,631 shares during the quarter. Millennium Management LLC owned approximately 0.48% of New Mountain Finance worth $5,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in New Mountain Finance by 240.4% in 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 in the last quarter. Fox Run Management L.L.C. purchased a new position in New Mountain Finance in the 4th quarter worth about $114,000. MQS Management LLC purchased a new position in New Mountain Finance in the 4th quarter worth about $123,000. Larson Financial Group LLC increased its stake in New Mountain Finance by 4,746.5% in the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock worth $123,000 after purchasing an additional 10,727 shares in the last quarter. Finally, New World Advisors LLC purchased a new position in New Mountain Finance in the 4th quarter worth about $147,000. Hedge funds and other institutional investors own 32.08% of the company's stock.

Insider Buying and Selling

In related news, Director David Ogens bought 5,000 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the acquisition, the director now owns 179,020 shares in the company, valued at $2,047,988.80. This trade represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.71% of the company's stock.

New Mountain Finance Stock Down 0.3%

Shares of NASDAQ NMFC traded down $0.03 during trading hours on Friday, hitting $10.74. The stock had a trading volume of 286,012 shares, compared to its average volume of 472,518. The company has a market capitalization of $1.16 billion, a P/E ratio of 10.23 and a beta of 0.85. The firm's 50-day moving average price is $10.23 and its two-hundred day moving average price is $11.04. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.65. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $85.66 million during the quarter, compared to analysts' expectations of $86.65 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.28 annualized dividend and a dividend yield of 11.92%. New Mountain Finance's payout ratio is 128.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on NMFC shares. 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 target price on the stock. Keefe, Bruyette & Woods lowered their target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th.

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.