GraniteShares Advisors LLC Boosts Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

GraniteShares Advisors LLC lifted its position in New Mountain Finance Co. (NASDAQ:NMFC) by 6.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,504 shares of the company’s stock after purchasing an additional 14,090 shares during the quarter. GraniteShares Advisors LLC’s holdings in New Mountain Finance were worth $2,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of New Mountain Finance by 4.1% in the 4th quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company’s stock worth $26,378,000 after purchasing an additional 93,329 shares in the last quarter. Invesco Ltd. boosted its holdings in New Mountain Finance by 1,929.2% during the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company’s stock valued at $11,101,000 after acquiring an additional 937,331 shares during the period. Ares Management LLC boosted its holdings in New Mountain Finance by 15.2% during the 4th quarter. Ares Management LLC now owns 566,186 shares of the company’s stock valued at $6,375,000 after acquiring an additional 74,492 shares during the period. Millennium Management LLC boosted its holdings in New Mountain Finance by 102.2% during the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company’s stock valued at $5,850,000 after acquiring an additional 262,631 shares during the period. Finally, Confluence Investment Management LLC boosted its holdings in New Mountain Finance by 2.1% during the 1st quarter. Confluence Investment Management LLC now owns 438,682 shares of the company’s stock valued at $4,839,000 after acquiring an additional 8,876 shares during the period. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NMFC. Wells Fargo & Company decreased their target price on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. B. Riley started coverage on New Mountain Finance in a research report on Tuesday, May 13th. They issued a “neutral” rating and a $11.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th.

New Mountain Finance Stock Performance

Shares of NMFC opened at $10.78 on Friday. The business’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $11.00. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12 month low of $8.84 and a 12 month high of $12.58. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 10.27 and a beta of 0.80.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $85.66 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Research analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.87%. New Mountain Finance’s dividend payout ratio (DPR) is currently 128.00%.

About New Mountain Finance

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.