Trexquant Investment LP increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 139.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,404 shares of the company's stock after buying an additional 96,831 shares during the period. Trexquant Investment LP owned 0.15% of New Mountain Finance worth $1,874,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of New Mountain Finance during the third quarter worth approximately $375,000. Rockingstone Advisors LLC lifted its holdings in New Mountain Finance by 79.1% during the 4th quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company's stock worth $3,177,000 after buying an additional 124,599 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in New Mountain Finance in the 4th quarter valued at $208,000. Union Bancaire Privee UBP SA acquired a new stake in shares of New Mountain Finance in the 4th quarter valued at $309,000. Finally, Raymond James Financial Inc. bought a new stake in shares of New Mountain Finance during the fourth quarter worth $944,000. Institutional investors own 32.08% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods reduced 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, April 8th.
Get Our Latest Analysis on NMFC
New Mountain Finance Trading Up 1.2 %
Shares of NMFC stock traded up $0.12 during trading hours on Monday, reaching $9.36. The company had a trading volume of 129,125 shares, compared to its average volume of 456,442. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a 1-year low of $8.84 and a 1-year high of $12.81. The company has a 50 day moving average of $11.11 and a 200 day moving average of $11.35. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 8.91 and a beta of 0.84.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its earnings results 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 company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. On average, equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 13.68%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is currently 123.08%.
Insider Transactions at New Mountain Finance
In other news, Director David Ogens bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company 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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