Mutual Advisors LLC Boosts Holdings in New Mountain Finance Corporation $NMFC

Key Points

• Mutual Advisors LLC significantly increased its stake in New Mountain Finance Corporation by 87.0% during the second quarter, owning approximately 0.06% of the company worth $635,000 after acquiring an additional 27,894 shares.
• New Mountain Finance recently reported $0.32 earnings per share for the quarter, matching analyst expectations, despite revenue falling short at $83.49 million.
• The company announced a quarterly dividend of $0.32, which yields 13.9% annually, with a reported payout ratio of 168.42%.

Mutual Advisors LLC increased its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 87.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,953 shares of the company's stock after purchasing an additional 27,894 shares during the quarter. Mutual Advisors LLC owned approximately 0.06% of New Mountain Finance worth $635,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. LSV Asset Management increased its position in New Mountain Finance by 14.3% in the first quarter. LSV Asset Management now owns 2,764,111 shares of the company's stock worth $30,488,000 after buying an additional 346,508 shares during the last quarter. Invesco Ltd. grew its stake in shares of New Mountain Finance by 10.7% during the 1st quarter. Invesco Ltd. now owns 1,091,476 shares of the company's stock worth $12,039,000 after acquiring an additional 105,559 shares during the period. Millennium Management LLC increased its holdings in New Mountain Finance by 36.9% in the 1st quarter. Millennium Management LLC now owns 711,050 shares of the company's stock worth $7,843,000 after acquiring an additional 191,518 shares during the last quarter. Transcend Capital Advisors LLC purchased a new stake in New Mountain Finance in the 1st quarter worth about $4,674,000. Finally, Muzinich & Co. Inc. lifted its holdings in New Mountain Finance by 15.5% during the first quarter. Muzinich & Co. Inc. now owns 393,136 shares of the company's stock valued at $4,336,000 after purchasing an additional 52,888 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Stock Up 0.9%

NMFC opened at $9.24 on Monday. The firm has a market capitalization of $982.77 million, a P/E ratio of 12.16 and a beta of 0.79. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.05. The company has a fifty day moving average price of $9.99 and a 200-day moving average price of $10.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $83.49 million during 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 quarter last year, the company earned $0.36 earnings per share. Equities research analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 13.9%. The ex-dividend date was Tuesday, September 16th. New Mountain Finance's dividend payout ratio is 168.42%.

Insider Buying and Selling

In related news, Director Steven B. Klinsky acquired 106,691 shares of the stock in a transaction dated Tuesday, September 16th. The shares were purchased at an average price of $9.78 per share, for a total transaction of $1,043,437.98. Following the transaction, the director owned 4,370,857 shares in the company, valued at $42,746,981.46. This represents a 2.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Adam B. Weinstein bought 49,750 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was bought at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the transaction, the executive vice president directly owned 652,490 shares of the company's stock, valued at $6,544,474.70. This represents a 8.25% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 157,191 shares of company stock worth $1,550,035 over the last ninety days. 11.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NMFC shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Bank of America reaffirmed an "underperform" rating and issued a $10.00 price objective (down from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. Oppenheimer set a $11.00 target price on shares of New Mountain Finance and gave the company a "market perform" rating in a report on Wednesday, August 6th. New Street Research set a $10.00 price target on New Mountain Finance in a report on Friday, October 10th. Finally, Zacks Research cut New Mountain Finance from a "hold" rating to a "strong sell" rating in a research report on Monday, October 13th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, New Mountain Finance presently has a consensus rating of "Reduce" and a consensus price target of $10.50.

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.

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