84,083 New Mountain Finance Corporation $NMFC Shares Bought by GraniteShares Advisors LLC

GraniteShares Advisors LLC grew its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 27.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,410 shares of the company’s stock after acquiring an additional 84,083 shares during the period. New Mountain Finance accounts for approximately 1.8% of GraniteShares Advisors LLC’s holdings, making the stock its 16th largest position. GraniteShares Advisors LLC’s holdings in New Mountain Finance were worth $2,681,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NMFC. SMH Capital Advisors Inc. acquired a new stake in shares of New Mountain Finance in the 3rd quarter valued at $174,000. State of Wyoming bought a new stake in New Mountain Finance in the third quarter worth $338,000. International Assets Investment Management LLC increased its position in New Mountain Finance by 60.8% during the third quarter. International Assets Investment Management LLC now owns 50,000 shares of the company’s stock worth $346,000 after buying an additional 18,902 shares during the last quarter. Genesee Capital Advisors LLC increased its position in New Mountain Finance by 22.5% during the third quarter. Genesee Capital Advisors LLC now owns 20,141 shares of the company’s stock worth $139,000 after buying an additional 3,694 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in New Mountain Finance by 28.4% during the third quarter. Farther Finance Advisors LLC now owns 147,836 shares of the company’s stock worth $1,023,000 after buying an additional 32,736 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NMFC shares. Weiss Ratings lowered New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Wells Fargo & Company decreased their price target on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and an average target price of $7.67.

New Mountain Finance Stock Performance

Shares of NMFC opened at $7.11 on Tuesday. The company has a market capitalization of $671.54 million, a PE ratio of -15.13 and a beta of 0.60. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.66 and a quick ratio of 3.66. New Mountain Finance Corporation has a one year low of $6.47 and a one year high of $9.84. The company’s fifty day moving average price is $7.05 and its 200 day moving average price is $7.66.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $60.41 million during the quarter, compared to analysts’ expectations of $61.07 million. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, analysts expect that New Mountain Finance Corporation will post 1.10 earnings per share for the current year.

About New Mountain Finance

New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies in industries such as business services, healthcare, software and technology.

New Mountain Finance primarily invests in debt securities, including first-lien, unitranche, second-lien and unsecured loans.