GYL Financial Synergies LLC Acquires 2,860 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

GYL Financial Synergies LLC boosted its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 18.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,290 shares of the company’s stock after acquiring an additional 2,860 shares during the period. GYL Financial Synergies LLC’s holdings in New Mountain Finance were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Oak Family Advisors LLC increased its holdings in shares of New Mountain Finance by 0.7% in the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock valued at $1,841,000 after purchasing an additional 1,020 shares during the last quarter. ProShare Advisors LLC grew its stake in New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after buying an additional 1,800 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in New Mountain Finance by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 119,726 shares of the company’s stock valued at $1,517,000 after acquiring an additional 2,032 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in New Mountain Finance during the first quarter worth approximately $40,000. Finally, Spire Wealth Management boosted its holdings in shares of New Mountain Finance by 9.7% during the first quarter. Spire Wealth Management now owns 36,425 shares of the company’s stock worth $462,000 after acquiring an additional 3,212 shares during the period. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Up 1.0 %

Shares of New Mountain Finance stock opened at $12.36 on Friday. New Mountain Finance Co. has a 52-week low of $11.60 and a 52-week high of $13.23. The stock has a market cap of $1.33 billion, a PE ratio of 11.14 and a beta of 1.15. The firm has a 50-day moving average of $12.26 and a 200-day moving average of $12.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.11 and a current ratio of 1.75.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. The firm had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, sell-side analysts forecast that New Mountain Finance Co. will post 1.42 EPS for the current year.

New Mountain Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a yield of 10.36%. New Mountain Finance’s dividend payout ratio (DPR) is presently 115.32%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered 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 note on Friday, August 2nd.

Insiders Place Their Bets

In related news, Director David Ogens bought 3,500 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the transaction, the director now owns 166,391 shares in the company, valued at approximately $2,099,854.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.22% of the company’s stock.

About New Mountain Finance

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.