SVB Wealth LLC purchased a new position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,735 shares of the company's stock, valued at approximately $279,000.
A number of other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of New Mountain Finance by 13.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock worth $351,000 after purchasing an additional 3,708 shares during the period. GraniteShares Advisors LLC boosted its position in shares of New Mountain Finance by 21.6% in the fourth quarter. GraniteShares Advisors LLC now owns 218,414 shares of the company's stock worth $2,459,000 after purchasing an additional 38,786 shares during the period. New World Advisors LLC bought a new position in shares of New Mountain Finance in the fourth quarter worth approximately $147,000. Y Intercept Hong Kong Ltd bought a new position in shares of New Mountain Finance in the fourth quarter worth approximately $1,170,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of New Mountain Finance in the fourth quarter worth approximately $309,000. 32.08% of the stock is currently owned by institutional investors.
New Mountain Finance Price Performance
Shares of NMFC stock traded up $0.12 during mid-day trading on Friday, hitting $11.38. The company had a trading volume of 412,183 shares, compared to its average volume of 371,743. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.01. The stock's 50 day moving average price is $11.50 and its 200-day moving average price is $11.65. 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 company has a market capitalization of $1.23 billion, a P/E ratio of 10.84 and a beta of 1.16.
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 company had revenue of $92.89 million during the quarter, compared to analysts' expectations of $93.23 million. Equities research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.25%. The ex-dividend date of this dividend is Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.
Insider Transactions at New Mountain Finance
In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven B. Klinsky purchased 72,280 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the purchase, the director now owns 4,285,505 shares of the company's stock, valued at $48,340,496.40. This represents a 1.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.22% of the company's stock.
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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