Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 101,311 shares of the company's stock, valued at approximately $1,141,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of New Mountain Finance at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC raised its holdings in shares of New Mountain Finance by 2.7% in the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company's stock worth $45,811,000 after acquiring an additional 100,315 shares during the last quarter. Quantbot Technologies LP purchased a new stake in New Mountain Finance during the 3rd quarter worth about $129,000. BNP Paribas Financial Markets acquired a new position in New Mountain Finance in the 3rd quarter valued at about $26,000. Paloma Partners Management Co purchased a new position in New Mountain Finance in the 3rd quarter valued at about $351,000. Finally, Centiva Capital LP acquired a new stake in shares of New Mountain Finance during the 3rd quarter worth about $130,000. Institutional investors and hedge funds own 32.08% of the company's stock.
New Mountain Finance Trading Up 0.4 %
Shares of NASDAQ:NMFC traded up $0.04 during trading on Monday, reaching $11.04. The stock had a trading volume of 321,072 shares, compared to its average volume of 429,945. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.19 billion, a P/E ratio of 10.51 and a beta of 1.16. The business has a fifty day moving average price of $11.48 and a 200-day moving average price of $11.56. New Mountain Finance Co. has a fifty-two week low of $10.62 and a fifty-two week high of $12.81.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. As a group, analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.59%. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.
Insider Buying and Selling
In related news, Director David Ogens purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.22% of the stock is currently owned by company insiders.
About New Mountain Finance
(
Free Report)
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.
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