New Mountain Finance Co. (NASDAQ:NMFC) Position Lowered by Dimension Capital Management LLC

Dimension Capital Management LLC cut its position in New Mountain Finance Co. (NASDAQ:NMFC) by 7.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,080,460 shares of the company’s stock after selling 87,699 shares during the period. New Mountain Finance makes up 2.7% of Dimension Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Dimension Capital Management LLC’s holdings in New Mountain Finance were worth $13,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LSV Asset Management lifted its position in shares of New Mountain Finance by 0.7% during the 2nd quarter. LSV Asset Management now owns 2,548,475 shares of the company’s stock worth $31,193,000 after purchasing an additional 17,300 shares during the last quarter. Van ECK Associates Corp raised its stake in New Mountain Finance by 21.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock valued at $25,467,000 after purchasing an additional 369,695 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of New Mountain Finance by 2.2% during the 2nd quarter. Confluence Investment Management LLC now owns 423,578 shares of the company’s stock valued at $5,185,000 after acquiring an additional 9,296 shares during the last quarter. Tranquility Partners LLC boosted its holdings in New Mountain Finance by 37.2% in the second quarter. Tranquility Partners LLC now owns 388,753 shares of the company’s stock valued at $4,763,000 after acquiring an additional 105,433 shares during the last quarter. Finally, Condor Capital Management grew its stake in New Mountain Finance by 28.2% during the second quarter. Condor Capital Management now owns 348,406 shares of the company’s stock worth $4,264,000 after buying an additional 76,739 shares during the period. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Trading Down 0.4 %

Shares of NASDAQ:NMFC opened at $11.86 on Thursday. The company’s 50-day moving average price is $12.20 and its 200 day moving average price is $12.39. The company has a market cap of $1.28 billion, a PE ratio of 10.68 and a beta of 1.14. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.40. New Mountain Finance Co. has a fifty-two week low of $11.60 and a fifty-two week high of $13.23.

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

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.79%. The ex-dividend date of this dividend is Monday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 115.32%.

Analysts Set New Price Targets

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

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.