Raymond James Financial Inc. bought a new position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 83,804 shares of the company's stock, valued at approximately $944,000. Raymond James Financial Inc. owned approximately 0.08% of New Mountain Finance at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of New Mountain Finance by 1,929.2% in the fourth quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after purchasing an additional 937,331 shares during the period. Envestnet Asset Management Inc. grew its position in New Mountain Finance by 139.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 137,773 shares of the company's stock worth $1,551,000 after buying an additional 80,309 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in New Mountain Finance in the 4th quarter worth about $305,000. ExodusPoint Capital Management LP raised its holdings in shares of New Mountain Finance by 107.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 26,291 shares of the company's stock valued at $296,000 after acquiring an additional 13,642 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of New Mountain Finance by 139.2% in the 4th quarter. Trexquant Investment LP now owns 166,404 shares of the company's stock valued at $1,874,000 after acquiring an additional 96,831 shares in the last quarter. 32.08% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, with a total value of $57,200.00. Following the completion of the purchase, the director now directly 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.71% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have recently commented on NMFC shares. Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. 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 for the company in a research report on Monday, April 28th.
Read Our Latest Stock Analysis on NMFC
New Mountain Finance Price Performance
Shares of NASDAQ NMFC traded up $0.07 during mid-day trading on Friday, reaching $10.41. 316,648 shares of the company were exchanged, compared to its average volume of 475,099. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.65. The company's 50 day moving average price is $10.36 and its 200 day moving average price is $11.10. The stock has a market capitalization of $1.12 billion, a PE ratio of 9.91 and a beta of 0.85. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued 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. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $85.66 million during the quarter, compared to analyst estimates of $86.65 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company's revenue was down 5.4% compared to the same quarter last year. Sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.32 dividend. 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 12.30%. New Mountain Finance's payout ratio is 128.00%.
New Mountain Finance Company 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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