Mutual Advisors LLC Raises Stake in New Mountain Finance Corporation $NMFC

Mutual Advisors LLC grew its holdings in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 87.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 59,953 shares of the company’s stock after acquiring an additional 27,894 shares during the quarter. Mutual Advisors LLC’s holdings in New Mountain Finance were worth $635,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of New Mountain Finance by 1.3% during the 1st quarter. Sei Investments Co. now owns 96,603 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,254 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of New Mountain Finance by 2.9% during the second quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after buying an additional 1,359 shares during the last quarter. Union Bancaire Privee UBP SA increased its holdings in shares of New Mountain Finance by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock worth $304,000 after buying an additional 1,393 shares during the period. MAI Capital Management lifted its stake in shares of New Mountain Finance by 44.9% in the 1st quarter. MAI Capital Management now owns 7,295 shares of the company’s stock valued at $80,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in New Mountain Finance by 7.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock valued at $371,000 after acquiring an additional 2,450 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Price Performance

NMFC opened at $9.24 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.42 and a current ratio of 1.42. 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 $982.77 million, a PE ratio of 12.16 and a beta of 0.79. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $10.23.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.The firm had revenue of $83.49 million for the quarter, compared to analysts’ expectations of $84.57 million. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 13.9%. New Mountain Finance’s payout ratio is currently 168.42%.

Insider Activity at New Mountain Finance

In other news, Director Steven B. Klinsky purchased 106,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were bought at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the transaction, the director directly owned 4,370,857 shares of the company’s stock, valued at $42,746,981.46. This trade represents a 2.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Adam B. Weinstein purchased 49,750 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were purchased at an average price of $10.03 per share, for a total transaction of $498,992.50. Following the completion of the transaction, the executive vice president directly owned 652,490 shares of the company’s stock, valued at $6,544,474.70. This represents a 8.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 157,191 shares of company stock worth $1,550,035 over the last 90 days. 11.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NMFC has been the topic of a number of analyst reports. 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. Zacks Research downgraded shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Bank of America reissued an “underperform” rating and set a $10.00 price target (down previously from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. New Street Research set a $10.00 price objective on shares of New Mountain Finance in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, New Mountain Finance currently has an average rating of “Reduce” and a consensus price target of $10.50.

New Mountain Finance 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.