Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 31.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,953 shares of the company's stock after selling 31,358 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of New Mountain Finance worth $772,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NMFC. BNP Paribas Financial Markets grew its position in New Mountain Finance by 240.4% in the fourth quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock worth $84,000 after acquiring an additional 5,288 shares during the period. XTX Topco Ltd acquired a new stake in shares of New Mountain Finance in the fourth quarter valued at $148,000. Vise Technologies Inc. increased its holdings in New Mountain Finance by 7.2% in the fourth quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock valued at $186,000 after buying an additional 1,110 shares during the last quarter. ProShare Advisors LLC increased its holdings in New Mountain Finance by 17.2% in the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock valued at $204,000 after buying an additional 2,664 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in New Mountain Finance in the fourth quarter valued at $236,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
New Mountain Finance Trading Up 0.4%
Shares of NASDAQ NMFC traded up $0.0450 during trading on Friday, hitting $10.4150. 60,245 shares of the company traded hands, compared to its average volume of 468,294. New Mountain Finance Corporation has a 1 year low of $8.84 and a 1 year high of $12.44. The company has a 50-day moving average price of $10.49 and a 200-day moving average price of $10.67. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.73 and a beta of 0.82. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current year.
New Mountain Finance Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Tuesday, September 16th. New Mountain Finance's dividend payout ratio is 168.42%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on NMFC shares. Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, B. Riley began coverage on shares of New Mountain Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price objective for the company. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.75.
Read Our Latest Stock Report on NMFC
About New Mountain Finance
(
Free Report)
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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