New Mountain Finance Corporation $NMFC Shares Acquired by Tranquility Partners LLC

Tranquility Partners LLC lifted its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 92.6% during the second quarter, Holdings Channel reports. The fund owned 232,087 shares of the company’s stock after purchasing an additional 111,615 shares during the quarter. New Mountain Finance comprises 0.9% of Tranquility Partners LLC’s portfolio, making the stock its 25th biggest holding. Tranquility Partners LLC’s holdings in New Mountain Finance were worth $2,449,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NMFC. Farther Finance Advisors LLC boosted its stake in shares of New Mountain Finance by 30.4% during the first quarter. Farther Finance Advisors LLC now owns 46,785 shares of the company’s stock valued at $519,000 after acquiring an additional 10,900 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in New Mountain Finance by 7.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock worth $371,000 after buying an additional 2,450 shares during the last quarter. Transcend Capital Advisors LLC acquired a new stake in New Mountain Finance in the 1st quarter worth about $4,674,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in New Mountain Finance by 19.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 387,176 shares of the company’s stock worth $4,271,000 after buying an additional 61,809 shares during the last quarter. Finally, Naviter Wealth LLC boosted its stake in New Mountain Finance by 4.5% in the 1st quarter. Naviter Wealth LLC now owns 197,677 shares of the company’s stock worth $2,251,000 after buying an additional 8,548 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NMFC shares. New Street Research set a $10.00 price target on New Mountain Finance in a research note on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday. Bank of America reissued an “underperform” rating and issued a $10.00 price target (down from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Finally, Oppenheimer set a $11.00 price target on New Mountain Finance and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, New Mountain Finance currently has a consensus rating of “Reduce” and an average price target of $10.50.

New Mountain Finance Stock Performance

New Mountain Finance stock opened at $8.93 on Friday. The stock’s 50-day moving average is $10.08 and its 200-day moving average is $10.29. The company has a market cap of $949.79 million, a price-to-earnings ratio of 11.75 and a beta of 0.79. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. New Mountain Finance Corporation has a 12 month low of $8.84 and a 12 month high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, August 4th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $83.49 million for the quarter, compared to the consensus estimate of $84.57 million. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.During the same period last year, the business posted $0.36 EPS. Equities analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 14.3%. The ex-dividend date was Tuesday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 168.42%.

Insider Activity

In related news, EVP Adam B. Weinstein bought 49,750 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the acquisition, the executive vice president owned 652,490 shares in the company, valued at $6,544,474.70. This represents a 8.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven B. Klinsky bought 106,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were bought at an average price of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the acquisition, the director owned 4,370,857 shares in the company, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 157,191 shares of company stock worth $1,550,035. Company insiders own 11.71% of the company’s stock.

About New Mountain Finance

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.