Confluence Investment Management LLC Purchases 4,756 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Confluence Investment Management LLC increased its position in New Mountain Finance Co. (NASDAQ:NMFC) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 428,334 shares of the company’s stock after buying an additional 4,756 shares during the quarter. Confluence Investment Management LLC’s holdings in New Mountain Finance were worth $5,131,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of New Mountain Finance by 16.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock valued at $3,809,000 after buying an additional 44,114 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of New Mountain Finance by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after acquiring an additional 168,719 shares during the last quarter. Condor Capital Management lifted its position in New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after acquiring an additional 76,739 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake 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 valued at $2,318,000 after purchasing an additional 67,990 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in New Mountain Finance during the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

New Mountain Finance Stock Up 2.1 %

New Mountain Finance stock opened at $11.32 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $1.22 billion, a PE ratio of 10.78 and a beta of 1.15. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.23. The firm’s 50-day simple moving average is $11.77 and its 200 day simple moving average is $12.18.

New Mountain Finance (NASDAQ:NMFC) last released its 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 net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.33 dividend. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.66%. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s payout ratio is 121.91%.

Insider Activity at New Mountain Finance

In other news, CEO John Kline purchased 41,550 shares of the stock in a transaction dated Wednesday, November 6th. The shares were purchased at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the acquisition, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other New Mountain Finance news, Director Steven B. Klinsky bought 150,609 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average cost of $10.87 per share, for a total transaction of $1,637,119.83. Following the purchase, the director now directly owns 3,632,326 shares of the company’s stock, valued at $39,483,383.62. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Kline purchased 41,550 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average price of $10.92 per share, with a total value of $453,726.00. Following the transaction, the chief executive officer now owns 351,783 shares in the company, valued at approximately $3,841,470.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 10.22% of the stock is owned by company insiders.

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.