Millennium Management LLC Increases Position in New Mountain Finance Co. (NASDAQ:NMFC)

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

Other large investors have also made changes to their positions in the company. Inspire Investing LLC grew its holdings in New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock valued at $399,000 after buying an additional 1,188 shares in the last quarter. Lido Advisors LLC raised its position in New Mountain Finance by 2.7% in the 4th quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock valued at $513,000 after purchasing an additional 1,199 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of New Mountain Finance by 13.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock worth $351,000 after acquiring an additional 3,708 shares in the last quarter. First National Trust Co raised its position in shares of New Mountain Finance by 2.9% during the 4th quarter. First National Trust Co now owns 164,579 shares of the company's stock worth $1,853,000 after acquiring an additional 4,574 shares in the last quarter. Finally, Essex Financial Services Inc. increased its position in New Mountain Finance by 33.6% during the fourth quarter. Essex Financial Services Inc. now owns 19,017 shares of the company's stock worth $214,000 after buying an additional 4,783 shares during the period. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Mountain Finance

In other news, Director David Ogens bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now directly owns 179,020 shares of the company's stock, valued at $2,047,988.80. This trade represents a 2.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NMFC shares. Keefe, Bruyette & Woods decreased their price target 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. Wells Fargo & Company lowered their price objective 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. Finally, B. Riley assumed coverage on New Mountain Finance in a report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target on the stock.

New Mountain Finance Trading Down 0.3%

Shares of New Mountain Finance stock traded down $0.03 on Friday, hitting $10.74. 286,012 shares of the company's stock traded hands, compared to its average volume of 473,931. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a one year low of $8.84 and a one year high of $12.65. The firm's 50-day moving average price is $10.23 and its two-hundred day moving average price is $11.05. The stock has a market capitalization of $1.16 billion, a PE ratio of 10.23 and a beta of 0.85.

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

New Mountain Finance Announces Dividend

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