Ameriprise Financial Inc. Purchases New Stake in New Mountain Finance Corporation (NYSE:NMFC)

Ameriprise Financial Inc. acquired a new stake in New Mountain Finance Corporation (NYSE:NMFC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,675 shares of the investment management company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Princeton Alpha Management LP raised its position in New Mountain Finance Corporation by 77.6% in the first quarter. Princeton Alpha Management LP now owns 27,332 shares of the investment management company’s stock worth $407,000 after buying an additional 11,941 shares during the period. Capital Fund Management S.A. acquired a new position in New Mountain Finance Corporation during the first quarter worth $744,000. DekaBank Deutsche Girozentrale acquired a new position in New Mountain Finance Corporation during the first quarter worth $148,000. Advisors Asset Management Inc. raised its position in New Mountain Finance Corporation by 27.2% in the first quarter. Advisors Asset Management Inc. now owns 326,756 shares of the investment management company’s stock worth $4,869,000 after buying an additional 69,869 shares during the period. Finally, Nwam LLC raised its position in New Mountain Finance Corporation by 27.3% in the first quarter. Nwam LLC now owns 14,000 shares of the investment management company’s stock worth $209,000 after buying an additional 3,000 shares during the period. 39.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at 14.25 on Friday. New Mountain Finance Corporation has a 52-week low of $13.05 and a 52-week high of $15.00. The stock’s 50 day moving average is $14.41 and its 200 day moving average is $14.58.

New Mountain Finance Corporation (NYSE:NMFC) last released its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $50.02 million for the quarter, compared to analyst estimates of $47.66 million. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. On average, equities analysts predict that New Mountain Finance Corporation will post $1.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 9.54%. The ex-dividend date is Thursday, September 14th. New Mountain Finance Corporation’s payout ratio is 86.62%.

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A number of research firms have weighed in on NMFC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of New Mountain Finance Corporation in a research note on Tuesday, July 25th. BidaskClub lowered shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Zacks Investment Research raised shares of New Mountain Finance Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, July 12th.

In other news, CFO Shiraz Kajee acquired 2,000 shares of New Mountain Finance Corporation stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average price of $14.63 per share, with a total value of $29,260.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $29,260. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Ogens acquired 3,600 shares of New Mountain Finance Corporation stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $14.37 per share, for a total transaction of $51,732.00. Following the purchase, the director now directly owns 49,654 shares of the company’s stock, valued at approximately $713,527.98. The disclosure for this purchase can be found here. Corporate insiders own 9.73% of the company’s stock.

About New Mountain Finance Corporation

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.

Institutional Ownership by Quarter for New Mountain Finance Corporation (NYSE:NMFC)

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