Clearstead Trust LLC Makes New Investment in New Mountain Finance Co. (NASDAQ:NMFC)

Clearstead Trust LLC purchased a new position in New Mountain Finance Co. (NASDAQ:NMFC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,994 shares of the company’s stock, valued at approximately $98,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Oak Family Advisors LLC boosted its position in shares of New Mountain Finance by 0.7% during the 2nd quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock valued at $1,841,000 after acquiring an additional 1,020 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of New Mountain Finance by 16.0% during the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after acquiring an additional 1,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of New Mountain Finance by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 119,726 shares of the company’s stock valued at $1,517,000 after acquiring an additional 2,032 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of New Mountain Finance by 9.1% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 30,742 shares of the company’s stock valued at $376,000 after acquiring an additional 2,571 shares in the last quarter. Finally, GYL Financial Synergies LLC boosted its position in shares of New Mountain Finance by 18.5% during the 2nd quarter. GYL Financial Synergies LLC now owns 18,290 shares of the company’s stock valued at $224,000 after acquiring an additional 2,860 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their target price on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd.

New Mountain Finance Trading Down 2.4 %

Shares of NMFC stock opened at $12.02 on Tuesday. New Mountain Finance Co. has a 12-month low of $11.60 and a 12-month high of $13.23. The company has a market capitalization of $1.30 billion, a P/E ratio of 10.83 and a beta of 1.14. The firm has a 50-day moving average price of $12.25 and a 200 day moving average price of $12.43. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.40.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. The company had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. During the same period in the previous year, the firm posted $0.39 earnings per share. Research analysts forecast that New Mountain Finance Co. will post 1.41 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.65%. The ex-dividend date of this dividend is Monday, September 16th. New Mountain Finance’s dividend payout ratio is presently 115.32%.

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.