Closed End Fund Advisors Inc. Purchases New Position in New Mountain Finance Corporation $NMFC

Closed End Fund Advisors Inc. purchased a new stake in New Mountain Finance Corporation (NASDAQ:NMFC) in the 4th quarter, HoldingsChannel reports. The firm purchased 586,070 shares of the company’s stock, valued at approximately $5,398,000. New Mountain Finance makes up approximately 3.2% of Closed End Fund Advisors Inc.’s holdings, making the stock its 5th biggest position.

Several other large investors have also made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of New Mountain Finance by 3.7% in the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after buying an additional 1,126 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of New Mountain Finance by 2.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after buying an additional 2,634 shares in the last quarter. US Bancorp DE bought a new stake in shares of New Mountain Finance in the 3rd quarter valued at approximately $48,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of New Mountain Finance by 3.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 206,629 shares of the company’s stock valued at $1,992,000 after buying an additional 6,022 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of New Mountain Finance by 16.3% in the 4th quarter. Spire Wealth Management now owns 45,600 shares of the company’s stock valued at $420,000 after buying an additional 6,400 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Down 2.2%

NMFC opened at $7.83 on Friday. New Mountain Finance Corporation has a twelve month low of $7.47 and a twelve month high of $11.04. The firm has a market cap of $739.54 million, a P/E ratio of -13.50 and a beta of 0.54. The business has a 50 day moving average price of $8.08 and a 200 day moving average price of $8.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The company had revenue of $41.27 million during the quarter, compared to analyst estimates of $67.76 million. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 19.7% compared to the same quarter last year. Research analysts forecast that New Mountain Finance Corporation will post 1.11 EPS for the current year.

New Mountain Finance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Tuesday, June 16th. New Mountain Finance’s dividend payout ratio is presently -220.69%.

Analyst Ratings Changes

NMFC has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. B. Riley Financial lowered their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings lowered New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Wednesday, March 4th. Finally, Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.25.

Insiders Place Their Bets

In related news, EVP Adam B. Weinstein purchased 12,900 shares of the stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $7.61 per share, for a total transaction of $98,169.00. Following the completion of the transaction, the executive vice president directly owned 751,756 shares of the company’s stock, valued at approximately $5,720,863.16. The trade was a 1.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven B. Klinsky purchased 276,242 shares of the stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $8.05 per share, for a total transaction of $2,223,748.10. Following the completion of the transaction, the director directly owned 5,370,858 shares of the company’s stock, valued at approximately $43,235,406.90. This trade represents a 5.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 512,900 shares of company stock valued at $4,123,169 over the last 90 days. 14.90% of the stock is currently owned by corporate insiders.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.