Confluence Investment Management LLC Boosts Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Confluence Investment Management LLC increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,578 shares of the company’s stock after purchasing an additional 9,296 shares during the quarter. Confluence Investment Management LLC owned approximately 0.39% of New Mountain Finance worth $5,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC grew its holdings in New Mountain Finance by 21.6% in the 1st quarter. SVB Wealth LLC now owns 40,052 shares of the company’s stock valued at $507,000 after buying an additional 7,125 shares during the period. Lazard Asset Management LLC purchased a new stake in New Mountain Finance in the 1st quarter valued at about $126,000. Advisors Asset Management Inc. grew its holdings in New Mountain Finance by 3.0% in the 1st quarter. Advisors Asset Management Inc. now owns 314,702 shares of the company’s stock valued at $3,987,000 after buying an additional 9,286 shares during the period. EntryPoint Capital LLC purchased a new stake in New Mountain Finance in the 1st quarter valued at about $52,000. Finally, MQS Management LLC grew its holdings in New Mountain Finance by 316.4% in the 1st quarter. MQS Management LLC now owns 61,879 shares of the company’s stock valued at $784,000 after buying an additional 47,018 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their price target on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a report on Friday.

New Mountain Finance Trading Down 1.4 %

Shares of NASDAQ:NMFC traded down $0.17 during trading on Friday, reaching $12.20. 473,557 shares of the stock were exchanged, compared to its average volume of 282,224. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.11 and a current ratio of 1.75. New Mountain Finance Co. has a 12-month low of $12.12 and a 12-month high of $13.23. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.99 and a beta of 1.15. The firm’s 50-day moving average price is $12.39 and its 200 day moving average price is $12.56.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. The business had revenue of $94.59 million during the quarter, compared to analysts’ expectations of $90.25 million. During the same quarter in the previous year, the business earned $0.39 EPS. On average, sell-side analysts anticipate that New Mountain Finance Co. will post 1.42 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 10.49%. The ex-dividend date of this dividend is Monday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is 115.32%.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director David Ogens bought 3,500 shares of New Mountain Finance stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the purchase, the director now owns 166,391 shares in the company, valued at approximately $2,099,854.42. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.22% of the stock is owned by corporate insiders.

New Mountain Finance Company 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.