Vise Technologies Inc. Acquires Shares of 15,771 New Mountain Finance Corporation $NMFC

Vise Technologies Inc. acquired a new position in shares of New Mountain Finance Corporation (NASDAQ:NMFC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,771 shares of the company’s stock, valued at approximately $166,000.

Several other institutional investors and hedge funds have also made changes to their positions in NMFC. Huntington National Bank grew its stake in New Mountain Finance by 311.8% during the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after buying an additional 3,433 shares during the last quarter. MAI Capital Management boosted its holdings in shares of New Mountain Finance by 44.9% in the first quarter. MAI Capital Management now owns 7,295 shares of the company’s stock valued at $80,000 after acquiring an additional 2,261 shares during the period. Quarry LP grew its position in shares of New Mountain Finance by 360.7% during the first quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after acquiring an additional 6,338 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of New Mountain Finance in the 1st quarter valued at $130,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of New Mountain Finance in the 2nd quarter valued at $126,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NMFC. New Street Research set a $10.00 price objective on shares of New Mountain Finance in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Oppenheimer set a $11.00 price target on New Mountain Finance and gave the company a “market perform” rating in a research report on Wednesday, August 6th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $10.00 target price (down from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $10.17.

Insiders Place Their Bets

In related news, EVP Adam B. Weinstein bought 49,750 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were bought at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the transaction, the executive vice president owned 652,490 shares of the company’s stock, valued at approximately $6,544,474.70. This trade represents a 8.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven B. Klinsky purchased 106,691 shares of the stock in a transaction dated Tuesday, September 16th. The shares were bought at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the purchase, the director owned 4,370,857 shares in the company, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 11.71% of the company’s stock.

New Mountain Finance Trading Down 1.0%

NASDAQ NMFC opened at $9.10 on Wednesday. The stock has a market capitalization of $938.76 million, a P/E ratio of 14.00 and a beta of 0.77. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.05. The firm has a 50-day moving average price of $9.59 and a 200 day moving average price of $10.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.The company had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities research analysts expect that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.1%. New Mountain Finance’s payout ratio is 196.92%.

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.