New Mountain Finance Co. (NASDAQ:NMFC) Stake Trimmed by LSV Asset Management

LSV Asset Management lowered its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,557,475 shares of the company’s stock after selling 67,528 shares during the quarter. LSV Asset Management owned approximately 2.52% of New Mountain Finance worth $32,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in New Mountain Finance by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 132,854 shares of the company’s stock worth $1,720,000 after acquiring an additional 10,504 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in New Mountain Finance by 1.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 105,069 shares of the company’s stock worth $1,361,000 after acquiring an additional 1,455 shares during the period. GraniteShares Advisors LLC lifted its holdings in shares of New Mountain Finance by 4.0% during the 3rd quarter. GraniteShares Advisors LLC now owns 119,515 shares of the company’s stock valued at $1,548,000 after buying an additional 4,585 shares during the last quarter. Tranquility Partners LLC lifted its holdings in shares of New Mountain Finance by 2.4% during the 3rd quarter. Tranquility Partners LLC now owns 99,767 shares of the company’s stock valued at $1,292,000 after buying an additional 2,305 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of New Mountain Finance during the 3rd quarter valued at about $133,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Up 0.6 %

NMFC opened at $12.70 on Monday. The business has a 50 day moving average price of $12.60 and a 200 day moving average price of $12.71. New Mountain Finance Co. has a twelve month low of $11.38 and a twelve month high of $13.23. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $1.35 billion, a P/E ratio of 11.44 and a beta of 1.11.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Wednesday, May 1st. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The company had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts forecast that New Mountain Finance Co. will post 1.5 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 10.08%. The ex-dividend date of this dividend is Friday, June 14th. New Mountain Finance’s dividend payout ratio is currently 115.32%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price target on New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a report on Monday, January 29th.

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.