Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 101,311 shares of the company’s stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in New Mountain Finance in the third quarter worth $26,000. MQS Management LLC acquired a new stake in New Mountain Finance in the fourth quarter worth $123,000. Larson Financial Group LLC increased its position in New Mountain Finance by 4,746.5% in the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock worth $123,000 after buying an additional 10,727 shares during the period. Quantbot Technologies LP acquired a new stake in New Mountain Finance in the third quarter worth $129,000. Finally, Centiva Capital LP acquired a new stake in New Mountain Finance in the third quarter worth $130,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Ogens bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the purchase, the director now directly owns 179,020 shares of the company’s stock, valued at $2,047,988.80. This represents a 2.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.22% of the company’s stock.

New Mountain Finance Price Performance

Shares of NMFC opened at $11.08 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. New Mountain Finance Co. has a one year low of $10.62 and a one year high of $12.81. The stock’s fifty day moving average is $11.48 and its 200-day moving average is $11.58.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $92.89 million for the quarter, compared to analyst estimates of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. Equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date is Monday, March 17th. New Mountain Finance’s dividend payout ratio (DPR) is 123.08%.

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.