New Mountain Finance Corporation $NMFC Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC increased its holdings in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 266.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 345,926 shares of the company’s stock after purchasing an additional 251,596 shares during the quarter. Acadian Asset Management LLC owned 0.33% of New Mountain Finance worth $3,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Huntington National Bank grew its stake in New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after buying an additional 3,433 shares during the period. MAI Capital Management lifted its holdings in shares of New Mountain Finance by 44.9% during the 1st quarter. MAI Capital Management now owns 7,295 shares of the company’s stock valued at $80,000 after acquiring an additional 2,261 shares in the last quarter. Quarry LP boosted its position in New Mountain Finance by 360.7% during the 1st quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after purchasing an additional 6,338 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in New Mountain Finance in the 2nd quarter valued at $126,000. Finally, Entropy Technologies LP acquired a new stake in New Mountain Finance in the 1st quarter valued at $130,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Insider Activity

In related news, EVP Adam B. Weinstein purchased 49,750 shares of New Mountain Finance stock in a transaction dated Monday, September 15th. The shares were acquired at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the transaction, the executive vice president owned 652,490 shares of the company’s stock, valued at approximately $6,544,474.70. This trade represents a 8.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven B. Klinsky acquired 106,691 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the completion of the acquisition, the director owned 4,370,857 shares of the company’s stock, valued at $42,746,981.46. The trade was a 2.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 11.71% of the company’s stock.

New Mountain Finance Stock Performance

Shares of NMFC opened at $9.43 on Friday. The firm has a market cap of $972.80 million, a price-to-earnings ratio of 14.51 and a beta of 0.77. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $9.64 and its two-hundred day moving average is $10.21. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The business had revenue of $80.53 million during the quarter, compared to analyst estimates of $83.91 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was down 15.5% compared to the same quarter last year. Analysts forecast that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date is Wednesday, December 17th. New Mountain Finance’s dividend payout ratio is 196.92%.

Analysts Set New Price Targets

NMFC has been the topic of a number of recent research reports. Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Bank of America reissued an “underperform” rating and set a $10.00 price target (down from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. B. Riley reiterated a “neutral” rating and set a $10.00 price objective (down previously from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, New Mountain Finance presently has a consensus rating of “Reduce” and an average target price of $10.17.

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.