Inspire Investing LLC Has $389,000 Position in New Mountain Finance Corporation $NMFC

Inspire Investing LLC increased its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,844 shares of the company’s stock after buying an additional 5,548 shares during the quarter. Inspire Investing LLC’s holdings in New Mountain Finance were worth $389,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NMFC. Oppenheimer & Co. Inc. grew its position in New Mountain Finance by 7.9% during the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock worth $371,000 after buying an additional 2,450 shares in the last quarter. Tranquility Partners LLC grew its position in New Mountain Finance by 32.6% during the first quarter. Tranquility Partners LLC now owns 120,472 shares of the company’s stock worth $1,329,000 after buying an additional 29,600 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in New Mountain Finance during the first quarter worth approximately $4,674,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in New Mountain Finance by 19.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 387,176 shares of the company’s stock worth $4,271,000 after purchasing an additional 61,809 shares during the last quarter. Finally, Naviter Wealth LLC lifted its stake in New Mountain Finance by 4.5% during the first quarter. Naviter Wealth LLC now owns 197,677 shares of the company’s stock worth $2,251,000 after purchasing 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

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Bank of America restated an “underperform” rating and set a $10.00 target price (down from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, New Street Research set a $10.00 target price on New Mountain Finance in a research note on Friday, October 10th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $10.50.

New Mountain Finance Stock Down 1.2%

Shares of NMFC opened at $9.43 on Thursday. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.05. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 12.41 and a beta of 0.79. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a fifty day moving average of $10.03 and a 200-day moving average of $10.26.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.The company had revenue of $83.49 million during the quarter, compared to analysts’ expectations of $84.57 million. During the same period in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date was Tuesday, September 16th. New Mountain Finance’s dividend payout ratio is presently 168.42%.

Insiders Place Their Bets

In related news, Director Steven B. Klinsky bought 106,691 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the transaction, the director directly owned 4,370,857 shares in the company, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adam B. Weinstein bought 49,750 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were bought at an average cost of $10.03 per share, with a total value of $498,992.50. Following the completion of the transaction, the executive vice president owned 652,490 shares in the company, valued at $6,544,474.70. The trade was a 8.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 157,191 shares of company stock valued at $1,550,035 over the last quarter. 11.71% of the stock is owned by corporate insiders.

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.