Sanders Morris Harris LLC boosted its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,875 shares of the investment management company’s stock after acquiring an additional 2,300 shares during the quarter. Sanders Morris Harris LLC’s holdings in New Mountain Finance were worth $209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NMFC. National Asset Management Inc. grew its position in New Mountain Finance by 9.3% in the second quarter. National Asset Management Inc. now owns 17,348 shares of the investment management company’s stock valued at $162,000 after acquiring an additional 1,472 shares during the period. Advisor Group Holdings Inc. acquired a new position in shares of New Mountain Finance during the first quarter valued at $1,711,000. Bank of America Corp DE lifted its stake in shares of New Mountain Finance by 22.8% during the second quarter. Bank of America Corp DE now owns 149,533 shares of the investment management company’s stock valued at $1,389,000 after acquiring an additional 27,794 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of New Mountain Finance by 17.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 789,207 shares of the investment management company’s stock valued at $7,332,000 after acquiring an additional 119,882 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of New Mountain Finance by 8.5% during the second quarter. Two Sigma Advisers LP now owns 181,700 shares of the investment management company’s stock valued at $1,688,000 after acquiring an additional 14,200 shares during the period. Hedge funds and other institutional investors own 34.02% of the company’s stock.
In other New Mountain Finance news, CAO Adam Weinstein purchased 47,150 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $9.91 per share, for a total transaction of $467,256.50. Also, CEO Robert Hamwee purchased 30,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $9.93 per share, for a total transaction of $297,900.00. The disclosure for this purchase can be found here. 9.09% of the stock is owned by company insiders.
New Mountain Finance stock traded up $0.01 during mid-day trading on Friday, reaching $9.66. 312,933 shares of the company were exchanged, compared to its average volume of 835,741. The company has a fifty day simple moving average of $9.89 and a 200-day simple moving average of $8.99. New Mountain Finance Corp. has a 12 month low of $4.62 and a 12 month high of $14.45. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $935.35 million, a PE ratio of -16.95 and a beta of 1.22.
New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. New Mountain Finance had a positive return on equity of 10.54% and a negative net margin of 17.83%. The firm had revenue of $65.97 million for the quarter, compared to analyst estimates of $67.40 million. Sell-side analysts anticipate that New Mountain Finance Corp. will post 1.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 12.42%. New Mountain Finance’s dividend payout ratio (DPR) is presently 94.49%.
A number of equities research analysts recently commented on the company. National Securities downgraded New Mountain Finance from a “buy” rating to a “neutral” rating in a report on Monday, August 10th. Oppenheimer reissued a “buy” rating and set a $11.00 price target on shares of New Mountain Finance in a report on Thursday, August 6th. Wells Fargo & Company reissued a “buy” rating on shares of New Mountain Finance in a report on Friday, July 10th. Zacks Investment Research cut New Mountain Finance from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, TheStreet raised New Mountain Finance from a “d+” rating to a “c-” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $11.85.
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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