Creative Planning Boosts Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Creative Planning increased its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 107.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,455 shares of the company’s stock after purchasing an additional 13,702 shares during the period. Creative Planning’s holdings in New Mountain Finance were worth $324,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NMFC. Millennium Management LLC increased its stake in New Mountain Finance by 5.4% in the 2nd quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock worth $5,591,000 after acquiring an additional 23,406 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in New Mountain Finance in the 2nd quarter worth approximately $223,000. ProShare Advisors LLC increased its stake in New Mountain Finance by 14.3% in the 2nd quarter. ProShare Advisors LLC now owns 14,895 shares of the company’s stock worth $182,000 after acquiring an additional 1,860 shares during the last quarter. Sei Investments Co. increased its stake in New Mountain Finance by 18.4% in the 2nd quarter. Sei Investments Co. now owns 85,708 shares of the company’s stock worth $1,049,000 after acquiring an additional 13,344 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in New Mountain Finance in the 2nd quarter worth approximately $98,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $11.59 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of 10.44 and a beta of 1.14. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75. The business’s 50 day moving average price is $12.04 and its 200-day moving average price is $12.31. New Mountain Finance Co. has a fifty-two week low of $11.58 and a fifty-two week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. The firm had revenue of $94.59 million for the quarter, compared to the consensus estimate of $90.25 million. During the same quarter in the previous year, the company posted $0.39 EPS. Sell-side analysts predict that New Mountain Finance Co. will post 1.41 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date was Monday, September 16th. New Mountain Finance’s payout ratio is currently 115.32%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their target price on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd.

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.