BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 345.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,987 shares of the company's stock after purchasing an additional 74,433 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of New Mountain Finance worth $1,081,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $148,000. Raymond James Financial Inc. purchased a new stake in New Mountain Finance in the fourth quarter valued at approximately $944,000. Invesco Ltd. boosted its position in shares of New Mountain Finance by 1,929.2% during the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after purchasing an additional 937,331 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of New Mountain Finance by 139.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 137,773 shares of the company's stock valued at $1,551,000 after acquiring an additional 80,309 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in New Mountain Finance during the fourth quarter worth $305,000. 32.08% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director David Ogens purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now directly owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 11.71% of the company's stock.
New Mountain Finance Price Performance
NASDAQ:NMFC traded up $0.01 during trading hours on Friday, reaching $10.13. 323,638 shares of the company traded hands, compared to its average volume of 469,491. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The firm's 50-day moving average is $10.70 and its 200-day moving average is $11.21. The stock has a market cap of $1.09 billion, a P/E ratio of 9.65 and a beta of 0.84. New Mountain Finance Co. has a 1-year low of $8.84 and a 1-year high of $12.81.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $92.89 million during the quarter, compared to analysts' expectations of $93.23 million. Equities research analysts expect 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 was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 12.64%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods lowered their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.
View Our Latest Analysis on New Mountain Finance
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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