Raymond James Financial Inc. bought a new position in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 83,804 shares of the company's stock, valued at approximately $944,000. Raymond James Financial Inc. owned approximately 0.08% of New Mountain Finance as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in New Mountain Finance during the third quarter worth $26,000. Quantbot Technologies LP bought a new stake in shares of New Mountain Finance during the 3rd quarter worth $129,000. Centiva Capital LP purchased a new position in shares of New Mountain Finance in the 3rd quarter worth about $130,000. New World Advisors LLC bought a new position in New Mountain Finance during the fourth quarter valued at about $147,000. Finally, Wilmington Savings Fund Society FSB bought a new position in New Mountain Finance during the third quarter valued at about $168,000. Hedge funds and other institutional investors own 32.08% of the company's stock.
New Mountain Finance Stock Performance
Shares of NMFC traded up $0.76 during mid-day trading on Wednesday, hitting $9.87. The stock had a trading volume of 1,265,216 shares, compared to its average volume of 452,323. New Mountain Finance Co. has a 52 week low of $8.87 and a 52 week high of $12.81. 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 business has a fifty day moving average price of $11.20 and a 200-day moving average price of $11.39. The firm has a market cap of $1.06 billion, a P/E ratio of 9.40 and a beta of 0.84.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. On average, equities research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 12.97%. The ex-dividend date of this dividend was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.
Insider Activity at New Mountain Finance
In related news, Director David Ogens bought 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now directly owns 179,020 shares in the company, valued at $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.34% of the stock is owned by company insiders.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods dropped their target price 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.
Read Our Latest Stock Analysis on NMFC
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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