Privium Fund Management UK Ltd Invests $499,000 in New Mountain Finance Corporation (NASDAQ:NMFC)

Key Points

• Privium Fund Management UK Ltd has invested $499,000 in New Mountain Finance Corporation by acquiring 45,500 shares, making it the fund's 18th largest holding at 0.4% of its portfolio.
• BNP Paribas Financial Markets has significantly increased its stake in New Mountain Finance by 240.4%, reflecting growing institutional interest in the stock, which is also owned by other hedge funds.
• New Mountain Finance reported an earnings per share (EPS) of $0.32 for the latest quarter, matching analysts' expectations, but experienced a 5.4% year-over-year decline in revenue.

Privium Fund Management UK Ltd acquired a new stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 45,500 shares of the company's stock, valued at approximately $499,000. New Mountain Finance accounts for about 0.4% of Privium Fund Management UK Ltd's investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. LSV Asset Management raised its position in shares of New Mountain Finance by 14.3% in the 1st quarter. LSV Asset Management now owns 2,764,111 shares of the company's stock valued at $30,488,000 after buying an additional 346,508 shares in the last quarter. Invesco Ltd. raised its position in shares of New Mountain Finance by 1,929.2% in the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock valued at $11,101,000 after buying an additional 937,331 shares in the last quarter. Ares Management LLC increased its position in New Mountain Finance by 15.2% during the 4th quarter. Ares Management LLC now owns 566,186 shares of the company's stock worth $6,375,000 after purchasing an additional 74,492 shares in the last quarter. Millennium Management LLC increased its position in New Mountain Finance by 102.2% during the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company's stock worth $5,850,000 after purchasing an additional 262,631 shares in the last quarter. Finally, Confluence Investment Management LLC increased its position in New Mountain Finance by 2.1% during the 1st quarter. Confluence Investment Management LLC now owns 438,682 shares of the company's stock worth $4,839,000 after purchasing an additional 8,876 shares in the last quarter. Institutional investors own 32.08% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NMFC. Wells Fargo & Company lowered 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. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the stock a "market perform" rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price target on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, B. Riley assumed 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 target for the company.

New Mountain Finance Stock Down 1.6%

NASDAQ NMFC traded down $0.16 on Wednesday, hitting $10.02. 487,369 shares of the company were exchanged, compared to its average volume of 470,348. The company has a market cap of $1.08 billion, a PE ratio of 13.19 and a beta of 0.82. New Mountain Finance Corporation has a 12 month low of $8.84 and a 12 month high of $12.44. The stock has a fifty day moving average of $10.60 and a 200-day moving average of $10.76. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.32.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.34%. The company had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts forecast that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.8%. New Mountain Finance's dividend payout ratio (DPR) is presently 128.00%.

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.