Dimension Capital Management LLC lifted its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 626,201 shares of the investment management company’s stock after buying an additional 92,099 shares during the period. New Mountain Finance makes up approximately 4.1% of Dimension Capital Management LLC’s holdings, making the stock its 7th largest position. Dimension Capital Management LLC’s holdings in New Mountain Finance were worth $8,454,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Castle Rock Wealth Management LLC acquired a new stake in shares of New Mountain Finance during the second quarter worth about $139,000. Comerica Bank acquired a new stake in shares of New Mountain Finance during the second quarter worth about $144,000. Tocqueville Asset Management L.P. acquired a new stake in shares of New Mountain Finance during the second quarter worth about $162,000. GSA Capital Partners LLP acquired a new stake in shares of New Mountain Finance during the second quarter worth about $270,000. Finally, Bard Associates Inc. boosted its stake in shares of New Mountain Finance by 25.1% during the second quarter. Bard Associates Inc. now owns 20,055 shares of the investment management company’s stock worth $273,000 after buying an additional 4,025 shares during the period. Institutional investors and hedge funds own 37.14% of the company’s stock.
In related news, insider James Stone bought 4,000 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $13.73 per share, with a total value of $54,920.00. Following the completion of the acquisition, the insider now owns 93,351 shares in the company, valued at approximately $1,281,709.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kline bought 17,250 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was bought at an average cost of $13.77 per share, with a total value of $237,532.50. Following the completion of the acquisition, the insider now owns 81,030 shares of the company’s stock, valued at approximately $1,115,783.10. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 48,250 shares of company stock valued at $662,833. 10.27% of the stock is owned by insiders.
Shares of NYSE:NMFC opened at $13.57 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $1.03 billion, a P/E ratio of 10.52 and a beta of 0.54. New Mountain Finance Corp. has a 52 week low of $12.05 and a 52 week high of $14.38.
New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $54.60 million during the quarter, compared to analyst estimates of $53.10 million. New Mountain Finance had a net margin of 46.52% and a return on equity of 10.11%. On average, sell-side analysts anticipate that New Mountain Finance Corp. will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.36 dividend on an annualized basis and a yield of 10.02%. New Mountain Finance’s payout ratio is currently 105.43%.
A number of brokerages recently commented on NMFC. Wells Fargo & Co reduced their price objective on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. ValuEngine downgraded shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, August 14th. Finally, TheStreet upgraded shares of New Mountain Finance from a “c+” rating to a “b” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.00.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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