International Assets Investment Management LLC Purchases 340,969 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

International Assets Investment Management LLC grew its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 1,017.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 374,487 shares of the company's stock after acquiring an additional 340,969 shares during the period. International Assets Investment Management LLC owned about 0.35% of New Mountain Finance worth $4,486,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new stake in New Mountain Finance during the first quarter valued at about $40,000. Quarry LP raised its position in shares of New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company's stock valued at $40,000 after purchasing an additional 1,342 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of New Mountain Finance during the 1st quarter valued at approximately $52,000. Clearstead Trust LLC bought a new position in New Mountain Finance in the 2nd quarter worth approximately $98,000. Finally, Lazard Asset Management LLC purchased a new position in New Mountain Finance in the 1st quarter valued at approximately $126,000. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC traded down $0.33 during mid-day trading on Friday, reaching $11.10. 901,188 shares of the company were exchanged, compared to its average volume of 452,870. New Mountain Finance Co. has a 52 week low of $11.03 and a 52 week high of $13.23. The company's 50 day moving average price is $11.88 and its 200 day moving average price is $12.23. The stock has a market capitalization of $1.20 billion, a PE ratio of 10.57 and a beta of 1.15. The company has a quick ratio of 1.75, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 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 $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that New Mountain Finance Co. will post 1.41 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.89%. The ex-dividend date is Tuesday, December 17th. This is a positive change from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's payout ratio is 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their target price on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday.

New Mountain Finance Company 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.