Confluence Investment Management LLC decreased its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 860,135 shares of the investment management company’s stock after selling 22,089 shares during the quarter. Confluence Investment Management LLC’s holdings in New Mountain Finance were worth $11,723,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NMFC. Lenox Wealth Advisors LLC bought a new position in shares of New Mountain Finance during the third quarter valued at approximately $26,000. Arlington Partners LLC bought a new position in shares of New Mountain Finance during the second quarter valued at approximately $36,000. Manchester Financial Inc. bought a new position in shares of New Mountain Finance during the second quarter valued at approximately $36,000. Marshall Wace North America L.P. bought a new position in shares of New Mountain Finance during the first quarter valued at approximately $68,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of New Mountain Finance during the second quarter valued at approximately $125,000. 34.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:NMFC opened at $13.44 on Thursday. New Mountain Finance Corp. has a 52-week low of $12.06 and a 52-week high of $14.38. The stock has a market cap of $1.17 billion, a P/E ratio of 9.74 and a beta of 0.53. The business’s 50 day moving average is $13.50 and its 200 day moving average is $13.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.47.
New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. New Mountain Finance had a return on equity of 10.47% and a net margin of 36.54%. The company had revenue of $66.47 million for the quarter, compared to analysts’ expectations of $64.98 million. On average, sell-side analysts anticipate that New Mountain Finance Corp. will post 1.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.34 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.36 annualized dividend and a yield of 10.12%. New Mountain Finance’s dividend payout ratio (DPR) is currently 98.55%.
A number of research analysts have recently commented on the company. Zacks Investment Research cut New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. ValuEngine raised New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th.
In related news, CAO Adam Weinstein bought 9,350 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $13.34 per share, for a total transaction of $124,729.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shiraz Kajee bought 2,500 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $13.38 per share, with a total value of $33,450.00. Following the acquisition, the chief financial officer now owns 7,500 shares of the company’s stock, valued at $100,350. The disclosure for this purchase can be found here. In the last three months, insiders purchased 22,200 shares of company stock worth $297,792. 10.27% of the stock is owned by insiders.
About New Mountain Finance
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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