New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in New Mountain Finance Co. (NASDAQ:NMFC) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,557,475 shares of the company’s stock after selling 67,528 shares during the period. LSV Asset Management’s holdings in New Mountain Finance were worth $32,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NMFC. International Assets Investment Management LLC lifted its holdings in New Mountain Finance by 1,157.0% in the fourth quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock worth $5,423,000 after acquiring an additional 392,434 shares during the last quarter. GraniteShares Advisors LLC increased its stake in shares of New Mountain Finance by 4.0% in the third quarter. GraniteShares Advisors LLC now owns 119,515 shares of the company’s stock valued at $1,548,000 after purchasing an additional 4,585 shares during the period. Van ECK Associates Corp increased its stake in shares of New Mountain Finance by 11.1% in the fourth quarter. Van ECK Associates Corp now owns 1,562,437 shares of the company’s stock valued at $19,875,000 after purchasing an additional 156,652 shares during the period. Cerity Partners LLC increased its stake in shares of New Mountain Finance by 2.6% in the fourth quarter. Cerity Partners LLC now owns 3,574,600 shares of the company’s stock valued at $45,469,000 after purchasing an additional 91,379 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of New Mountain Finance by 1.9% in the third quarter. HighTower Advisors LLC now owns 2,828,491 shares of the company’s stock valued at $36,626,000 after purchasing an additional 53,195 shares during the period. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $12.70 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $1.35 billion, a PE ratio of 11.44 and a beta of 1.11. New Mountain Finance Co. has a 12 month low of $11.38 and a 12 month high of $13.23. The company’s 50 day simple moving average is $12.60 and its 200 day simple moving average is $12.71.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The firm had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. As a group, equities research analysts forecast that New Mountain Finance Co. will post 1.5 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, June 14th. This represents a $1.28 annualized dividend and a dividend yield of 10.08%. New Mountain Finance’s payout ratio is 115.32%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their price objective on shares of New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

New Mountain Finance Company 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.