Dimension Capital Management LLC Acquires 138,123 Shares of New Mountain Finance Corporation $NMFC

Dimension Capital Management LLC boosted its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 950,072 shares of the company’s stock after acquiring an additional 138,123 shares during the quarter. New Mountain Finance makes up approximately 1.6% of Dimension Capital Management LLC’s holdings, making the stock its 12th biggest holding. Dimension Capital Management LLC owned about 0.89% of New Mountain Finance worth $10,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of New Mountain Finance in the second quarter worth about $217,000. Marshall Wace LLP acquired a new stake in shares of New Mountain Finance in the second quarter valued at approximately $2,303,000. PharVision Advisers LLC raised its position in New Mountain Finance by 41.0% in the 2nd quarter. PharVision Advisers LLC now owns 35,877 shares of the company’s stock worth $379,000 after purchasing an additional 10,435 shares during the last quarter. Quantbot Technologies LP acquired a new position in New Mountain Finance during the 2nd quarter worth $199,000. Finally, Everstar Asset Management LLC lifted its holdings in New Mountain Finance by 9.7% during the 2nd quarter. Everstar Asset Management LLC now owns 65,578 shares of the company’s stock worth $692,000 after buying an additional 5,824 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NMFC shares. Keefe, Bruyette & Woods lowered their target price on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Bank of America reiterated an “underperform” rating and issued a $10.00 price objective (down from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. New Street Research set a $10.00 target price on shares of New Mountain Finance in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Finally, B. Riley reiterated a “neutral” rating and set a $10.00 price target (down previously from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $10.17.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $9.79 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 15.06 and a beta of 0.57. The business has a 50 day simple moving average of $9.48 and a 200 day simple moving average of $10.10. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was down 15.5% on a year-over-year basis. Analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $1.28 dividend on an annualized basis and a yield of 13.1%. New Mountain Finance’s dividend payout ratio is presently 196.92%.

Insider Transactions at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 106,691 shares of New Mountain Finance stock in a transaction dated Tuesday, September 16th. The stock was bought at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the completion of the transaction, the director directly owned 4,370,857 shares of the company’s stock, valued at approximately $42,746,981.46. This represents a 2.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adam B. Weinstein acquired 49,750 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were purchased at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the acquisition, the executive vice president owned 652,490 shares of the company’s stock, valued at $6,544,474.70. This represents a 8.25% increase in their position. The disclosure for this purchase is available in the SEC filing. 11.71% of the stock is currently owned by corporate insiders.

New Mountain Finance 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.