New Mountain Finance Co. (NASDAQ:NMFC) Stock Position Raised by Private Advisor Group LLC

Private Advisor Group LLC raised its stake in New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) by 5.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,586 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Private Advisor Group LLC’s holdings in New Mountain Finance were worth $341,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Mutual Advisors LLC increased its stake in New Mountain Finance by 3.1% in the 1st quarter. Mutual Advisors LLC now owns 25,902 shares of the company’s stock valued at $359,000 after buying an additional 787 shares during the period. Advisory Services Network LLC increased its stake in shares of New Mountain Finance by 4.9% during the 1st quarter. Advisory Services Network LLC now owns 21,390 shares of the company’s stock worth $296,000 after purchasing an additional 1,000 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of New Mountain Finance by 0.3% during the 2nd quarter. Confluence Investment Management LLC now owns 403,193 shares of the company’s stock worth $4,802,000 after purchasing an additional 1,326 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of New Mountain Finance by 1.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 77,885 shares of the company’s stock worth $1,079,000 after purchasing an additional 1,357 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of New Mountain Finance by 5.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,943 shares of the company’s stock worth $456,000 after purchasing an additional 1,706 shares during the last quarter. Institutional investors and hedge funds own 31.74% of the company’s stock.

New Mountain Finance Stock Performance

Shares of NMFC opened at $11.63 on Friday. The company’s fifty day moving average is $12.84 and its 200-day moving average is $12.51. New Mountain Finance Co. has a 12 month low of $11.19 and a 12 month high of $14.11. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 9.61 and a beta of 1.17. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.46.

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New Mountain Finance (NASDAQ:NMFC – Get Rating) last posted its earnings results on Monday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. New Mountain Finance had a net margin of 45.29% and a return on equity of 9.15%. The business had revenue of $73.11 million for the quarter, compared to analyst estimates of $70.64 million. Equities analysts expect that New Mountain Finance Co. will post 1.23 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.30 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 10.32%. New Mountain Finance’s payout ratio is presently 99.17%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group dropped their price target on shares of New Mountain Finance to $12.50 in a research note on Wednesday.

New Mountain Finance Profile

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New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializing 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.