Russell Investments Group Ltd. Takes $581,000 Position in New Mountain Finance Corporation $NMFC

Russell Investments Group Ltd. bought a new stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,644 shares of the company’s stock, valued at approximately $581,000.

Several other large investors have also added to or reduced their stakes in the business. Entropy Technologies LP bought a new stake in New Mountain Finance in the first quarter worth approximately $130,000. Invesco Ltd. increased its stake in shares of New Mountain Finance by 10.7% in the 1st quarter. Invesco Ltd. now owns 1,091,476 shares of the company’s stock valued at $12,039,000 after acquiring an additional 105,559 shares in the last quarter. Privium Fund Management UK Ltd bought a new stake in shares of New Mountain Finance in the 1st quarter valued at $499,000. LSV Asset Management lifted its position in shares of New Mountain Finance by 14.3% during the 1st quarter. LSV Asset Management now owns 2,764,111 shares of the company’s stock valued at $30,488,000 after acquiring an additional 346,508 shares during the period. Finally, First National Trust Co boosted its stake in New Mountain Finance by 2.9% during the first quarter. First National Trust Co now owns 169,359 shares of the company’s stock worth $1,868,000 after acquiring an additional 4,780 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NMFC. B. Riley began coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They issued a “neutral” rating and a $11.00 price target for the company. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, New Mountain Finance currently has an average rating of “Hold” and a consensus price target of $10.75.

New Mountain Finance Stock Performance

NMFC opened at $10.66 on Friday. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.44. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 14.03 and a beta of 0.82. The company’s fifty day moving average price is $10.50 and its two-hundred day moving average price is $10.61. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share (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 firm had revenue of $83.49 million during the quarter, compared to analysts’ expectations of $84.57 million. During the same period last year, the company earned $0.36 earnings per share. On average, analysts expect that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.0%. New Mountain Finance’s dividend payout ratio is 168.42%.

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.