Muzinich & Co. Inc. Grows Position in New Mountain Finance Corporation $NMFC

Key Points

• Muzinich & Co. Inc. raised its stake in New Mountain Finance by 26.6% in Q4 to 849,437 shares, representing about 0.82% of NMFC and roughly $7.82 million on its books.
• Company insiders have been buying: the COO and EVP made recent purchases and insiders bought a total of 1,200,673 shares (~$9.66M) in the past 90 days, now owning 14.9% of the stock.
• NMFC declared a quarterly dividend of $0.32 (annualized $1.28) — a 15.9% yield — but with a payout ratio of 853%, while analysts' consensus is a "Reduce" rating with a $9.25 target amid several recent downgrades and price cuts.

Muzinich & Co. Inc. raised its holdings in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 849,437 shares of the company's stock after acquiring an additional 178,381 shares during the period. New Mountain Finance makes up 2.5% of Muzinich & Co. Inc.'s investment portfolio, making the stock its 15th largest position. Muzinich & Co. Inc. owned about 0.82% of New Mountain Finance worth $7,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of New Mountain Finance by 4.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company's stock valued at $24,966,000 after acquiring an additional 115,004 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of New Mountain Finance by 29.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company's stock valued at $15,382,000 after acquiring an additional 363,443 shares in the last quarter. Invesco Ltd. raised its holdings in shares of New Mountain Finance by 18.5% in the 3rd quarter. Invesco Ltd. now owns 1,219,813 shares of the company's stock valued at $11,759,000 after acquiring an additional 190,152 shares in the last quarter. Dimension Capital Management LLC raised its holdings in shares of New Mountain Finance by 17.0% during the 2nd quarter. Dimension Capital Management LLC now owns 950,072 shares of the company's stock valued at $10,023,000 after buying an additional 138,123 shares in the last quarter. Finally, Millennium Management LLC lifted its position 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 buying an additional 191,518 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company's stock.

Analyst Ratings Changes

NMFC has been the subject of several research reports. Wall Street Zen raised New Mountain Finance from a "sell" rating to a "hold" rating in a research note on Sunday. Keefe, Bruyette & Woods cut their target price on New Mountain Finance from $10.00 to $9.00 and set a "market perform" rating for the company in a research note on Wednesday, March 4th. Zacks Research lowered New Mountain Finance from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Finally, B. Riley Financial cut their target price on New Mountain Finance from $10.00 to $7.50 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, New Mountain Finance currently has an average rating of "Reduce" and a consensus target price of $9.25.

Insider Buying and Selling

In related news, COO Laura C. Holson Boswerger purchased 12,500 shares of New Mountain Finance stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $7.74 per share, for a total transaction of $96,750.00. Following the transaction, the chief operating officer directly owned 81,030 shares in the company, valued at $627,172.20. The trade was a 18.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adam B. Weinstein purchased 12,900 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $7.61 per share, for a total transaction of $98,169.00. Following the completion of the transaction, the executive vice president owned 751,756 shares in the company, valued at $5,720,863.16. The trade was a 1.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,200,673 shares of company stock worth $9,662,634 in the last ninety days. 14.90% of the stock is owned by insiders.

New Mountain Finance Price Performance

NMFC opened at $8.05 on Wednesday. The stock's 50 day simple moving average is $8.05 and its 200 day simple moving average is $8.92. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16. New Mountain Finance Corporation has a 1 year low of $7.47 and a 1 year high of $11.04. The firm has a market cap of $793.01 million, a price-to-earnings ratio of 53.67 and a beta of 0.54.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 15.9%. The ex-dividend date was Tuesday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 853.33%.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company's investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.

Want to see what other hedge funds are holding NMFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Mountain Finance Corporation (NASDAQ:NMFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.