Tranquility Partners LLC Increases Position in New Mountain Finance Corporation (NASDAQ:NMFC)

Tranquility Partners LLC lifted its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,472 shares of the company's stock after purchasing an additional 29,600 shares during the period. Tranquility Partners LLC owned about 0.11% of New Mountain Finance worth $1,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in New Mountain Finance by 240.4% during the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock worth $84,000 after buying an additional 5,288 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of New Mountain Finance during the 4th quarter worth about $114,000. Larson Financial Group LLC lifted its stake in New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock worth $123,000 after purchasing an additional 10,727 shares during the last quarter. MQS Management LLC purchased a new stake in New Mountain Finance during the fourth quarter worth approximately $123,000. Finally, XTX Topco Ltd acquired a new position in New Mountain Finance in the fourth quarter valued at approximately $148,000. Institutional investors and hedge funds own 32.08% of the company's stock.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $10.54 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 10.54 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 stock has a 50 day moving average of $10.42 and a two-hundred day moving average of $10.90. 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 announced its earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $85.66 million for the quarter, compared to analysts' expectations of $86.65 million. New Mountain Finance had a net margin of 29.84% and a return on equity of 10.57%. The company's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. On average, research 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 Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.32 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.14%. New Mountain Finance's payout ratio is 128.00%.

Analyst Upgrades and Downgrades

NMFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. B. Riley assumed coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price target on the stock. Finally, Wells Fargo & Company decreased 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 note on Monday, April 28th.

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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