Tranquility Partners LLC Acquires 84,584 Shares of New Mountain Finance Corporation $NMFC

Tranquility Partners LLC raised its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 36.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,671 shares of the company’s stock after buying an additional 84,584 shares during the period. New Mountain Finance comprises about 1.0% of Tranquility Partners LLC’s holdings, making the stock its 20th largest position. Tranquility Partners LLC’s holdings in New Mountain Finance were worth $3,053,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dimension Capital Management LLC increased its position in shares of New Mountain Finance by 17.0% during the second quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock worth $10,023,000 after acquiring an additional 138,123 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in New Mountain Finance by 68.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 714,104 shares of the company’s stock valued at $7,534,000 after acquiring an additional 290,320 shares in the last quarter. Millennium Management LLC boosted its stake in New Mountain Finance by 36.9% during the 1st quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock valued at $7,843,000 after purchasing an additional 191,518 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in New Mountain Finance by 16.6% during the 3rd quarter. Muzinich & Co. Inc. now owns 671,056 shares of the company’s stock valued at $6,469,000 after purchasing an additional 95,582 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in New Mountain Finance by 18.1% during the 2nd quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock worth $6,788,000 after purchasing an additional 98,603 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Keefe, Bruyette & Woods reduced their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Finally, New Street Research set a $10.00 target price on shares of New Mountain Finance in a report on Friday, October 10th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and a consensus target price of $10.17.

New Mountain Finance Trading Down 0.8%

NASDAQ NMFC opened at $9.05 on Wednesday. The business’s fifty day moving average is $9.34 and its 200-day moving average is $9.82. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $933.60 million, a price-to-earnings ratio of 13.92 and a beta of 0.58. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $80.53 million during the quarter, compared to the consensus estimate of $83.91 million. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Equities research analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, December 17th. This represents a $1.28 annualized dividend and a dividend yield of 14.1%. New Mountain Finance’s dividend payout ratio (DPR) is presently 196.92%.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.