Two Sigma Advisers LP lessened its position in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 959,271 shares of the company's stock after selling 66,929 shares during the period. Two Sigma Advisers LP owned about 0.89% of New Mountain Finance worth $10,801,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $208,000. Raymond James Financial Inc. acquired a new stake in shares of New Mountain Finance during the fourth quarter worth $944,000. Union Bancaire Privee UBP SA bought a new position in shares of New Mountain Finance in the 4th quarter worth about $309,000. Oppenheimer & Co. Inc. lifted its position in shares of New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock worth $351,000 after buying an additional 3,708 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of New Mountain Finance by 57.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,723 shares of the company's stock valued at $211,000 after buying an additional 6,812 shares during the period. Institutional investors and hedge funds own 32.08% of the company's stock.
Insider Transactions at New Mountain Finance
In related news, Director David Ogens acquired 5,000 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now directly owns 179,020 shares of the company's stock, valued at $2,047,988.80. This trade represents a 2.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 11.71% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on NMFC. Wells Fargo & Company dropped their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. B. Riley assumed coverage on New Mountain Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price objective on 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.
Get Our Latest Research Report on New Mountain Finance
New Mountain Finance Stock Performance
New Mountain Finance stock traded up $0.17 during midday trading on Tuesday, reaching $10.77. 187,532 shares of the stock traded hands, compared to its average volume of 496,497. New Mountain Finance Co. has a fifty-two week low of $8.84 and a fifty-two week high of $12.65. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 10.26 and a beta of 0.85. The firm has a fifty day moving average price of $10.26 and a two-hundred day moving average price of $11.06.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $85.66 million during the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business's revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Announces Dividend
The firm 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 $0.32 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.28 annualized dividend and a dividend yield of 11.88%. New Mountain Finance's payout ratio is 128.00%.
New Mountain Finance Profile
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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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