Transcend Capital Advisors LLC bought a new position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 423,784 shares of the company's stock, valued at approximately $4,674,000. Transcend Capital Advisors LLC owned approximately 0.39% of New Mountain Finance at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in New Mountain Finance by 1,929.2% during the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after purchasing an additional 937,331 shares in the last quarter. Millennium Management LLC boosted its position in shares of New Mountain Finance by 102.2% during the fourth quarter. Millennium Management LLC now owns 519,532 shares of the company's stock worth $5,850,000 after buying an additional 262,631 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of New Mountain Finance during the fourth quarter worth about $2,359,000. Naviter Wealth LLC bought a new position in shares of New Mountain Finance during the fourth quarter worth about $2,130,000. Finally, Franklin Resources Inc. raised its position in New Mountain Finance by 62.0% in the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company's stock valued at $4,085,000 after buying an additional 138,860 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.
New Mountain Finance Stock Up 0.2%
NMFC stock traded up $0.02 during mid-day trading on Monday, reaching $10.56. The company had a trading volume of 599,482 shares, compared to its average volume of 471,108. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.55. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 10.56 and a beta of 0.80. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $10.87.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. New Mountain Finance had a net margin of 29.84% and a return on equity of 10.57%. The business had revenue of $85.66 million during the quarter, compared to analysts' expectations of $86.65 million. During the same period last year, the business earned $0.36 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. As a group, equities analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, June 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.12%. New Mountain Finance's dividend payout ratio is presently 128.00%.
Analysts Set New Price Targets
A number of research firms have weighed in on NMFC. Wells Fargo & Company reduced their price target on 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. 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 research report on Tuesday, April 8th. Finally, B. Riley started coverage on shares of New Mountain Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 target price for the company.
Get Our Latest Stock Analysis on New Mountain Finance
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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