Invesco Ltd. Has $11.10 Million Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Invesco Ltd. lifted its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 1,929.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 985,917 shares of the company's stock after purchasing an additional 937,331 shares during the period. Invesco Ltd. owned 0.91% of New Mountain Finance worth $11,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NMFC. Franklin Resources Inc. bought a new stake in New Mountain Finance in the 3rd quarter valued at $2,608,000. Naviter Wealth LLC bought a new stake in New Mountain Finance in the 4th quarter valued at $2,130,000. Dorsey & Whitney Trust CO LLC bought a new stake in New Mountain Finance in the 4th quarter valued at $1,525,000. Rockingstone Advisors LLC increased its position in New Mountain Finance by 79.1% during the 4th quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company's stock worth $3,177,000 after buying an additional 124,599 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in New Mountain Finance during the 4th quarter worth $1,170,000. Institutional investors own 32.08% of the company's stock.

Insider Transactions at New Mountain Finance

In other news, Director David Ogens purchased 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the acquisition, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.71% of the stock is currently owned by insiders.

New Mountain Finance Stock Performance

NMFC stock traded up $0.10 during trading hours on Monday, hitting $10.23. 299,312 shares of the stock were exchanged, compared to its average volume of 469,781. 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 capitalization of $1.10 billion, a P/E ratio of 9.74 and a beta of 0.84. The company has a 50-day simple moving average of $10.66 and a two-hundred day simple moving average of $11.20. New Mountain Finance Co. has a 12 month low of $8.84 and a 12 month high of $12.81.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. On average, analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.51%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on 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. Wells Fargo & Company lowered their price objective on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday.

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.