Two Sigma Investments LP reduced its position in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 678,896 shares of the company's stock after selling 74,078 shares during the period. Two Sigma Investments LP owned 0.63% of New Mountain Finance worth $7,644,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC grew its position in shares of New Mountain Finance by 3.5% in the fourth quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock valued at $399,000 after purchasing an additional 1,188 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in New Mountain Finance during the 4th quarter valued at approximately $309,000. EMC Capital Management grew its holdings in New Mountain Finance by 130.6% in the 4th quarter. EMC Capital Management now owns 18,470 shares of the company's stock valued at $208,000 after buying an additional 10,462 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in New Mountain Finance in the 4th quarter valued at approximately $208,000. Finally, Essex Financial Services Inc. increased its position in New Mountain Finance by 33.6% in the 4th quarter. Essex Financial Services Inc. now owns 19,017 shares of the company's stock worth $214,000 after buying an additional 4,783 shares during the period. 32.08% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at New Mountain Finance
In related news, Director David Ogens bought 5,000 shares of New Mountain Finance stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This trade represents a 2.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 11.71% of the company's stock.
New Mountain Finance Price Performance
Shares of NASDAQ:NMFC remained flat at $10.77 during trading on Friday. 52,862 shares of the stock were exchanged, compared to its average volume of 472,004. The company has a market cap of $1.16 billion, a PE ratio of 10.26 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.65. The firm has a 50 day simple moving average of $10.24 and a 200-day simple moving average of $11.05.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $85.66 million for the quarter, compared to analyst estimates of $86.65 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business's revenue was down 5.4% on a year-over-year basis. Analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 11.88%. The ex-dividend date of this dividend is Monday, June 16th. New Mountain Finance's dividend payout ratio is currently 128.00%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. 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. Wells Fargo & Company decreased their price target 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. Finally, B. Riley started coverage on shares of New Mountain Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective for the company.
Read Our Latest Stock Analysis on NMFC
New Mountain Finance 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.
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