Corient Private Wealth LLC Takes Position in New Mountain Finance Corporation $NMFC

Corient Private Wealth LLC acquired a new position in shares of New Mountain Finance Corporation (NASDAQ:NMFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 808,882 shares of the company’s stock, valued at approximately $7,450,000.

Other hedge funds have also modified their holdings of the company. Rivernorth Capital Management LLC purchased a new stake in New Mountain Finance in the fourth quarter valued at approximately $12,326,000. Closed End Fund Advisors Inc. acquired a new position in New Mountain Finance during the fourth quarter worth approximately $5,398,000. Truffle Hound Capital LLC purchased a new position in New Mountain Finance during the fourth quarter worth approximately $5,066,000. JPMorgan Chase & Co. raised its stake in New Mountain Finance by 27.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after purchasing an additional 443,016 shares during the period. Finally, UBS Group AG boosted its holdings in shares of New Mountain Finance by 33.4% in the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock valued at $14,194,000 after purchasing an additional 385,891 shares during the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NMFC has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings lowered New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. B. Riley Financial reduced their target price on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen raised New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Wells Fargo & Company lowered their price target on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $9.25.

New Mountain Finance Trading Down 2.9%

NASDAQ NMFC opened at $6.95 on Thursday. The firm has a market capitalization of $656.43 million, a price-to-earnings ratio of -11.98 and a beta of 0.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02. New Mountain Finance Corporation has a one year low of $6.89 and a one year high of $10.90. The company’s 50 day moving average price is $7.99 and its 200 day moving average price is $8.35.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. The company had revenue of $41.27 million during the quarter, compared to the consensus estimate of $67.76 million. During the same period in the previous year, the firm earned $0.32 earnings per share. New Mountain Finance’s revenue for the quarter was down 19.7% on a year-over-year basis. On average, sell-side analysts predict that New Mountain Finance Corporation will post 1.11 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 14.4%. New Mountain Finance’s payout ratio is presently -172.41%.

New Mountain Finance Company Profile

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.