New Mountain Finance Corp. (NYSE:NMFC) Sees Significant Drop in Short Interest

New Mountain Finance Corp. (NYSE:NMFC) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,064,400 shares, a drop of 7.9% from the May 30th total of 1,156,000 shares. Based on an average daily volume of 374,100 shares, the short-interest ratio is presently 2.8 days. Currently, 1.5% of the company’s shares are sold short.

NYSE NMFC traded down $0.06 during trading on Monday, hitting $13.74. The stock had a trading volume of 21,566 shares, compared to its average volume of 701,049. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market cap of $1.21 billion, a PE ratio of 9.97 and a beta of 0.56. New Mountain Finance has a one year low of $12.06 and a one year high of $14.38. The firm’s 50 day moving average price is $14.04.

New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings results on Monday, May 6th. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 38.07% and a return on equity of 10.37%. The company had revenue of $64.19 million for the quarter, compared to the consensus estimate of $62.83 million. On average, sell-side analysts expect that New Mountain Finance will post 1.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 9.90%. The ex-dividend date of this dividend was Thursday, June 13th. New Mountain Finance’s dividend payout ratio is presently 98.55%.

Separately, Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th.

Several institutional investors have recently bought and sold shares of NMFC. LSV Asset Management raised its stake in New Mountain Finance by 12.5% in the first quarter. LSV Asset Management now owns 2,323,600 shares of the investment management company’s stock worth $31,531,000 after buying an additional 258,429 shares in the last quarter. Confluence Investment Management LLC raised its stake in New Mountain Finance by 0.7% in the first quarter. Confluence Investment Management LLC now owns 924,957 shares of the investment management company’s stock worth $12,552,000 after buying an additional 6,603 shares in the last quarter. Legal & General Group Plc grew its holdings in New Mountain Finance by 14.8% in the fourth quarter. Legal & General Group Plc now owns 348,288 shares of the investment management company’s stock worth $4,394,000 after purchasing an additional 44,878 shares during the last quarter. Williams Jones & Associates LLC grew its holdings in New Mountain Finance by 0.8% in the first quarter. Williams Jones & Associates LLC now owns 261,975 shares of the investment management company’s stock worth $3,555,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware grew its holdings in New Mountain Finance by 1.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 244,614 shares of the investment management company’s stock worth $3,319,000 after purchasing an additional 2,576 shares during the last quarter. 36.31% of the stock is owned by hedge funds and other institutional investors.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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