Creative Planning increased its holdings in New Mountain Finance Co. (NASDAQ:NMFC – Free Report) 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 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.
Check Out Our Latest Analysis on NMFC
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.
See Also
- Five stocks we like better than New Mountain Finance
- What Do S&P 500 Stocks Tell Investors About the Market?
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for New Mountain Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance and related companies with MarketBeat.com's FREE daily email newsletter.