TCW Group Inc. acquired a new position in New Mountain Finance Corp. (NYSE:NMFC) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 15,800 shares of the investment management company’s stock, valued at approximately $214,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NMFC. LSV Asset Management boosted its holdings in shares of New Mountain Finance by 12.5% in the first quarter. LSV Asset Management now owns 2,323,600 shares of the investment management company’s stock valued at $31,531,000 after acquiring an additional 258,429 shares during the period. Confluence Investment Management LLC raised its position in New Mountain Finance by 0.7% during the first quarter. Confluence Investment Management LLC now owns 924,957 shares of the investment management company’s stock valued at $12,552,000 after purchasing an additional 6,603 shares in the last quarter. Dimension Capital Management LLC grew its stake in shares of New Mountain Finance by 34.9% during the fourth quarter. Dimension Capital Management LLC now owns 844,631 shares of the investment management company’s stock worth $10,411,000 after buying an additional 218,430 shares during the last quarter. Cliffwater LLC grew its stake in shares of New Mountain Finance by 42.4% during the fourth quarter. Cliffwater LLC now owns 772,080 shares of the investment management company’s stock worth $9,713,000 after buying an additional 229,714 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of New Mountain Finance by 14.8% during the fourth quarter. Legal & General Group Plc now owns 348,288 shares of the investment management company’s stock worth $4,394,000 after buying an additional 44,878 shares during the last quarter. 36.35% of the stock is owned by institutional investors.
A number of analysts have weighed in on the stock. TheStreet raised shares of New Mountain Finance from a “c” rating to a “b-” rating in a research note on Friday, March 1st. Zacks Investment Research cut shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th.
NYSE NMFC opened at $14.03 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 10.17 and a beta of 0.59. New Mountain Finance Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $14.38. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.39.
New Mountain Finance (NYSE:NMFC) last posted its earnings results on Monday, May 6th. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $64.19 million for the quarter, compared to the consensus estimate of $62.83 million. New Mountain Finance had a return on equity of 10.37% and a net margin of 38.07%. As a group, sell-side analysts predict that New Mountain Finance Corp. will post 1.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.69%. New Mountain Finance’s payout ratio is presently 98.55%.
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New Mountain Finance 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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