Confluence Investment Management LLC Has $4.84 Million Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Confluence Investment Management LLC raised its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 429,806 shares of the company’s stock after buying an additional 1,472 shares during the period. Confluence Investment Management LLC’s holdings in New Mountain Finance were worth $4,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMFC. Cerity Partners LLC grew its position in New Mountain Finance by 2.7% during the 3rd quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock worth $45,811,000 after acquiring an additional 100,315 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after purchasing an additional 168,719 shares during the last quarter. Condor Capital Management increased its stake in shares of New Mountain Finance by 28.2% in the second quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after buying an additional 76,739 shares during the period. HighTower Advisors LLC boosted its position in New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after buying an additional 237,594 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in New Mountain Finance by 54.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company’s stock worth $2,318,000 after acquiring an additional 67,990 shares during the last quarter. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Up 0.7 %

NASDAQ NMFC opened at $11.34 on Friday. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.10. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.80 and a beta of 1.15. The business’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $11.89.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. During the same quarter in the previous year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a yield of 11.64%. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio is 121.90%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

Insiders Place Their Bets

In related news, Director Steven B. Klinsky purchased 34,867 shares of New Mountain Finance stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $11.51 per share, for a total transaction of $401,319.17. Following the completion of the acquisition, the director now owns 4,056,324 shares of the company’s stock, valued at $46,688,289.24. This trade represents a 0.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Kline purchased 41,550 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the purchase, the chief executive officer now owns 351,783 shares of the company’s stock, valued at approximately $3,841,470.36. This represents a 13.39 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 324,530 shares of company stock worth $3,603,675. Company insiders own 10.22% of the company’s stock.

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.