Zacks Investment Research downgraded shares of New Mountain Finance Corporation (NYSE:NMFC) from a hold rating to a sell rating in a research note released on Friday, May 12th.
Shares of New Mountain Finance Corporation (NYSE:NMFC) traded down 0.69% on Friday, hitting $14.40. 439,029 shares of the stock traded hands. New Mountain Finance Corporation has a 12 month low of $12.14 and a 12 month high of $15.00. The firm’s 50 day moving average is $14.64 and its 200-day moving average is $14.52. The company has a market cap of $1.09 billion, a PE ratio of 7.74 and a beta of 0.59.
New Mountain Finance Corporation (NYSE:NMFC) last announced its earnings results on Monday, May 8th. The investment management company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. New Mountain Finance Corporation had a return on equity of 10.06% and a net margin of 78.68%. The firm had revenue of $43.31 million during the quarter, compared to the consensus estimate of $44.09 million. Equities analysts predict that New Mountain Finance Corporation will post $1.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.44%. New Mountain Finance Corporation’s payout ratio is presently 72.73%.
In other New Mountain Finance Corporation news, Director David Ogens purchased 3,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $14.37 per share, with a total value of $51,732.00. Following the acquisition, the director now directly owns 49,654 shares of the company’s stock, valued at approximately $713,527.98. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shiraz Kajee purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average cost of $14.63 per share, with a total value of $29,260.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at $29,260. The disclosure for this purchase can be found here. Corporate insiders own 9.73% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC boosted its stake in shares of New Mountain Finance Corporation by 49.7% in the first quarter. Global X Management Co. LLC now owns 9,057 shares of the investment management company’s stock worth $135,000 after buying an additional 3,007 shares in the last quarter. Allianz Asset Management AG bought a new stake in shares of New Mountain Finance Corporation during the fourth quarter valued at about $147,000. DekaBank Deutsche Girozentrale bought a new position in shares of New Mountain Finance Corporation during the first quarter valued at about $148,000. Trexquant Investment LP bought a new stake in New Mountain Finance Corporation during the fourth quarter worth $153,000. Finally, Virginia Retirement Systems ET AL bought a new position in New Mountain Finance Corporation during the first quarter worth about $167,000. 38.88% of the stock is currently owned by institutional investors and hedge funds.
New Mountain Finance Corporation Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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