Stifel Financial Corp Acquires 31,543 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Stifel Financial Corp raised its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,681 shares of the company's stock after purchasing an additional 31,543 shares during the quarter. Stifel Financial Corp owned 0.07% of New Mountain Finance worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Inspire Investing LLC boosted its holdings in shares of New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock valued at $399,000 after buying an additional 1,188 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of New Mountain Finance by 13.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock valued at $351,000 after acquiring an additional 3,708 shares in the last quarter. First National Trust Co lifted its stake in New Mountain Finance by 2.9% in the fourth quarter. First National Trust Co now owns 164,579 shares of the company's stock valued at $1,853,000 after buying an additional 4,574 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in New Mountain Finance by 33.6% in the fourth quarter. Essex Financial Services Inc. now owns 19,017 shares of the company's stock valued at $214,000 after acquiring an additional 4,783 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of New Mountain Finance by 57.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,723 shares of the company's stock worth $211,000 after purchasing an additional 6,812 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David Ogens acquired 5,000 shares of the firm's stock in a transaction dated 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 acquisition, the director now directly owns 179,020 shares in the company, valued at $2,047,988.80. This represents a 2.87% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target 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 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 began coverage on shares of New Mountain Finance in a report on Tuesday. They set a "neutral" rating and a $11.00 price target on the stock.

New Mountain Finance Stock Up 0.7%

Shares of NMFC stock traded up $0.08 during trading hours on Tuesday, hitting $10.76. 334,124 shares of the company were exchanged, compared to its average volume of 475,870. 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 business has a 50 day moving average of $10.35 and a two-hundred day moving average of $11.09. The company has a market capitalization of $1.16 billion, a PE ratio of 10.25 and a beta of 0.85. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.65.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $85.66 million during the quarter, compared to the consensus estimate of $86.65 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a yield of 11.90%. New Mountain Finance's dividend payout ratio is currently 128.00%.

New Mountain Finance Company Profile

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.