Confluence Investment Management LLC Acquires Shares of 414,282 New Mountain Finance Co. (NASDAQ:NMFC)

Confluence Investment Management LLC bought a new position in New Mountain Finance Co. (NASDAQ:NMFC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 414,282 shares of the company’s stock, valued at approximately $5,249,000.

Other institutional investors also recently modified their holdings of the company. 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 worth $45,469,000 after acquiring an additional 91,379 shares during the last quarter. Van ECK Associates Corp grew its stake in 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 in the last quarter. International Assets Investment Management LLC increased its position in New Mountain Finance by 1,157.0% in the 4th quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock worth $5,423,000 after purchasing an additional 392,434 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of New Mountain Finance by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 355,491 shares of the company’s stock worth $4,604,000 after purchasing an additional 25,908 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of New Mountain Finance during the 3rd quarter valued at about $4,457,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Transactions at New Mountain Finance

In related news, Director David Ogens acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $12.62 per share, with a total value of $44,170.00. Following the purchase, the director now owns 166,391 shares of the company’s stock, valued at $2,099,854.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.34% of the stock is currently owned by corporate insiders.

New Mountain Finance Trading Down 0.6 %

Shares of NASDAQ NMFC opened at $12.24 on Wednesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 11.03 and a beta of 1.13. The business has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $12.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. New Mountain Finance Co. has a 52 week low of $11.99 and a 52 week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Wednesday, May 1st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). The business had revenue of $90.56 million during the quarter, compared to the consensus estimate of $90.08 million. New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, research analysts predict that New Mountain Finance Co. will post 1.43 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.32 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.46%. New Mountain Finance’s dividend payout ratio is currently 115.32%.

New Mountain Finance 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.