Transcend Capital Advisors LLC acquired a new stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 423,784 shares of the company's stock, valued at approximately $4,674,000. Transcend Capital Advisors LLC owned 0.39% of New Mountain Finance at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Invesco Ltd. grew its holdings in New Mountain Finance by 1,929.2% during the fourth quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after acquiring an additional 937,331 shares during the period. Millennium Management LLC grew its stake in shares of New Mountain Finance by 102.2% in 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of New Mountain Finance in the 4th quarter worth approximately $2,359,000. Naviter Wealth LLC acquired a new position in shares of New Mountain Finance in the 4th quarter worth approximately $2,130,000. Finally, Franklin Resources Inc. grew its stake in shares of New Mountain Finance by 62.0% in the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company's stock worth $4,085,000 after purchasing an additional 138,860 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company's stock.
New Mountain Finance Trading Up 1.6%
New Mountain Finance stock opened at $10.54 on Friday. The company's fifty day simple moving average is $10.42 and its 200-day simple moving average is $10.90. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.32. New Mountain Finance Corporation has a 12 month low of $8.84 and a 12 month high of $12.55. 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 (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $85.66 million during the quarter, compared to analysts' expectations of $86.65 million. New Mountain Finance had a return on equity of 10.57% and a net margin of 29.84%. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, sell-side analysts forecast that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.
New Mountain Finance Announces Dividend
The business also recently declared 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 of this dividend is Monday, June 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.14%. New Mountain Finance's dividend payout ratio (DPR) is presently 128.00%.
Analysts Set New Price Targets
NMFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their target price on 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 began coverage on New Mountain Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target on the stock. Finally, Wells Fargo & Company dropped their target price on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th.
Check Out Our Latest Report on NMFC
New Mountain Finance Company Profile
(
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.
See Also
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).
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