MQS Management LLC Boosts Stake in New Mountain Finance Corporation (NASDAQ:NMFC)

MQS Management LLC grew its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 325.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,305 shares of the company's stock after acquiring an additional 35,411 shares during the quarter. MQS Management LLC's holdings in New Mountain Finance were worth $511,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NMFC. Oppenheimer & Co. Inc. lifted its stake in shares of New Mountain Finance by 7.9% during the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company's stock worth $371,000 after purchasing an additional 2,450 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of New Mountain Finance during the 4th quarter valued at about $944,000. ProShare Advisors LLC lifted its position in New Mountain Finance by 17.2% during the 4th quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock worth $204,000 after acquiring an additional 2,664 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in New Mountain Finance by 179.7% in the 4th quarter. Squarepoint Ops LLC now owns 40,292 shares of the company's stock worth $454,000 after acquiring an additional 25,886 shares during the period. Finally, Jane Street Group LLC grew its position in New Mountain Finance by 232.7% in the fourth quarter. Jane Street Group LLC now owns 104,285 shares of the company's stock valued at $1,174,000 after acquiring an additional 72,944 shares in the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NMFC. Keefe, Bruyette & Woods reduced their price target on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped 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 note on Monday, April 28th. Finally, B. Riley assumed coverage on shares of 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 Price Performance

Shares of NASDAQ NMFC opened at $10.78 on Monday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.78 and a beta of 0.80. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.55. The business has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $10.83.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $85.66 million for the quarter, compared to analyst estimates of $86.65 million. New Mountain Finance had a net margin of 29.84% and a return on equity of 10.57%. New Mountain Finance's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, equities research analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 11.87%. The ex-dividend date of this dividend was Monday, June 16th. New Mountain Finance's dividend payout ratio (DPR) is 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.

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