Castle Rock Wealth Management LLC lifted its stake in New Mountain Finance Corp. (NYSE:NMFC) by 55.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,818 shares of the investment management company’s stock after acquiring an additional 17,724 shares during the quarter. Castle Rock Wealth Management LLC owned approximately 0.06% of New Mountain Finance worth $698,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its position in New Mountain Finance by 18.6% during the 4th quarter. Deutsche Bank AG now owns 38,225 shares of the investment management company’s stock valued at $480,000 after purchasing an additional 6,004 shares during the period. Creative Planning lifted its stake in New Mountain Finance by 8.7% during the 1st quarter. Creative Planning now owns 30,332 shares of the investment management company’s stock valued at $412,000 after acquiring an additional 2,415 shares during the period. Sigma Planning Corp lifted its stake in New Mountain Finance by 2.6% during the 1st quarter. Sigma Planning Corp now owns 94,872 shares of the investment management company’s stock valued at $1,287,000 after acquiring an additional 2,438 shares during the period. Mckinley Capital Management LLC Delaware lifted its stake in New Mountain Finance by 1.1% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 244,614 shares of the investment management company’s stock valued at $3,319,000 after acquiring an additional 2,576 shares during the period. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in New Mountain Finance during the 1st quarter valued at approximately $350,000. 34.67% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Adam Weinstein acquired 9,350 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $13.34 per share, for a total transaction of $124,729.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Shiraz Kajee acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $13.38 per share, with a total value of $33,450.00. Following the completion of the purchase, the chief financial officer now owns 7,500 shares in the company, valued at $100,350. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 22,200 shares of company stock worth $297,792. Corporate insiders own 10.27% of the company’s stock.
Separately, Zacks Investment Research cut shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Friday.
New Mountain Finance stock traded up $0.01 during mid-day trading on Friday, hitting $13.54. The company had a trading volume of 758 shares, compared to its average volume of 371,886. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 9.83 and a beta of 0.54. New Mountain Finance Corp. has a 1 year low of $12.06 and a 1 year high of $14.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $13.58 and a 200 day moving average of $13.79.
New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $66.47 million for the quarter, compared to analyst estimates of $64.98 million. New Mountain Finance had a return on equity of 10.47% and a net margin of 36.54%. Equities analysts anticipate that New Mountain Finance Corp. will post 1.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend is Thursday, September 12th. New Mountain Finance’s dividend payout ratio is currently 98.55%.
About New Mountain Finance
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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