Cerity Partners LLC Has $19.97 Million Position in New Mountain Finance Corporation $NMFC

Cerity Partners LLC cut its stake in New Mountain Finance Corporation (NASDAQ:NMFC) by 25.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,072,024 shares of the company’s stock after selling 697,027 shares during the quarter. Cerity Partners LLC owned 1.95% of New Mountain Finance worth $19,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NMFC. MTM Investment Management LLC bought a new stake in New Mountain Finance in the second quarter valued at approximately $38,000. Huntington National Bank grew its holdings in shares of New Mountain Finance by 311.8% in the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after buying an additional 3,433 shares during the period. Glenview Trust co bought a new stake in shares of New Mountain Finance in the 2nd quarter valued at $107,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in New Mountain Finance during the 2nd quarter worth $126,000. Finally, Advyzon Investment Management LLC acquired a new stake in New Mountain Finance during the 2nd quarter worth $126,000. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NMFC. Bank of America restated an “underperform” rating and issued a $10.00 price target (down from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. B. Riley reissued a “neutral” rating and set a $10.00 target price (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. New Street Research set a $10.00 price target on shares of New Mountain Finance in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and a consensus target price of $10.17.

New Mountain Finance Stock Performance

Shares of NMFC stock opened at $9.23 on Friday. New Mountain Finance Corporation has a 12 month low of $8.84 and a 12 month high of $12.05. The company’s fifty day simple moving average is $9.41 and its 200-day simple moving average is $9.89. The firm has a market cap of $952.17 million, a PE ratio of 14.20 and a beta of 0.58. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40.

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, meeting the consensus estimate of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was down 15.5% compared to the same quarter last year. Equities research analysts expect 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 was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 13.9%. The ex-dividend date was Wednesday, December 17th. New Mountain Finance’s dividend payout ratio is presently 196.92%.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.