Invesco Ltd. Increases Stake in New Mountain Finance Corporation $NMFC

Invesco Ltd. lifted its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,476 shares of the company’s stock after buying an additional 105,559 shares during the quarter. Invesco Ltd. owned approximately 1.01% of New Mountain Finance worth $12,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMFC. Oppenheimer & Co. Inc. grew its stake in shares of New Mountain Finance by 7.9% in the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock worth $371,000 after acquiring an additional 2,450 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of New Mountain Finance by 17.2% in the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company’s stock worth $204,000 after buying an additional 2,664 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of New Mountain Finance by 179.7% in the fourth quarter. Squarepoint Ops LLC now owns 40,292 shares of the company’s stock worth $454,000 after buying an additional 25,886 shares during the last quarter. Jane Street Group LLC lifted its position in shares of New Mountain Finance by 232.7% during the 4th quarter. Jane Street Group LLC now owns 104,285 shares of the company’s stock valued at $1,174,000 after buying an additional 72,944 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of New Mountain Finance by 161.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 124,989 shares of the company’s stock valued at $1,407,000 after buying an additional 77,141 shares in the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Trading Up 0.2%

NASDAQ:NMFC opened at $10.39 on Friday. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.44. The firm has a 50 day moving average of $10.49 and a 200 day moving average of $10.65. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.67 and a beta of 0.82.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The company had revenue of $83.49 million during the quarter, compared to analysts’ expectations of $84.57 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.3%. New Mountain Finance’s payout ratio is presently 168.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the company a “market perform” rating in a research report on Wednesday, August 6th. B. Riley assumed coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, New Mountain Finance has an average rating of “Hold” and an average target price of $10.75.

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.