Mutual Advisors LLC Boosts Position in New Mountain Finance Co. (NASDAQ:NMFC)

Mutual Advisors LLC boosted its position in shares of New Mountain Finance Co. (NASDAQ:NMFCFree Report) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 25,246 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Mutual Advisors LLC’s holdings in New Mountain Finance were worth $321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GraniteShares Advisors LLC increased its position in New Mountain Finance by 4.0% in the third quarter. GraniteShares Advisors LLC now owns 119,515 shares of the company’s stock worth $1,548,000 after buying an additional 4,585 shares in the last quarter. HighTower Advisors LLC grew its position in shares of New Mountain Finance by 1.9% during the third quarter. HighTower Advisors LLC now owns 2,828,491 shares of the company’s stock worth $36,626,000 after purchasing an additional 53,195 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of New Mountain Finance during the third quarter worth about $4,457,000. Van ECK Associates Corp grew its position in shares of New Mountain Finance by 6.5% during the third quarter. Van ECK Associates Corp now owns 1,405,785 shares of the company’s stock worth $18,205,000 after purchasing an additional 85,873 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of New Mountain Finance by 7.9% during the third quarter. Advisors Asset Management Inc. now owns 355,491 shares of the company’s stock worth $4,604,000 after purchasing an additional 25,908 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their target price on New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th.

Check Out Our Latest Research Report on New Mountain Finance

New Mountain Finance Price Performance

Shares of New Mountain Finance stock opened at $12.67 on Friday. The stock has a 50 day moving average of $12.70 and a 200 day moving average of $12.75. New Mountain Finance Co. has a 12 month low of $11.38 and a 12 month high of $13.23. The firm has a market cap of $1.35 billion, a PE ratio of 10.14 and a beta of 1.13. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.34.

New Mountain Finance (NASDAQ:NMFCGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. New Mountain Finance had a return on equity of 11.93% and a net margin of 36.13%. The company had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.03 million. During the same period in the prior year, the company earned $0.35 earnings per share. On average, research analysts expect that New Mountain Finance Co. will post 1.53 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 11.37%. New Mountain Finance’s dividend payout ratio is presently 102.40%.

New Mountain Finance Company 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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Institutional Ownership by Quarter for New Mountain Finance (NASDAQ:NMFC)

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