New Mountain Finance Co. (NASDAQ:NMFC) Shares Bought by Inspire Investing LLC

Inspire Investing LLC lifted its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,267 shares of the company’s stock after acquiring an additional 5,668 shares during the quarter. Inspire Investing LLC’s holdings in New Mountain Finance were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. LSV Asset Management increased its position in shares of New Mountain Finance by 0.7% during the second quarter. LSV Asset Management now owns 2,548,475 shares of the company’s stock worth $31,193,000 after acquiring an additional 17,300 shares during the period. Van ECK Associates Corp increased its position in shares of New Mountain Finance by 21.6% during the second quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock worth $25,467,000 after acquiring an additional 369,695 shares during the period. Millennium Management LLC increased its position in shares of New Mountain Finance by 5.4% during the second quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock worth $5,591,000 after acquiring an additional 23,406 shares during the period. Confluence Investment Management LLC increased its position in shares of New Mountain Finance by 2.2% during the second quarter. Confluence Investment Management LLC now owns 423,578 shares of the company’s stock worth $5,185,000 after acquiring an additional 9,296 shares during the period. Finally, Tranquility Partners LLC increased its position in shares of New Mountain Finance by 37.2% during the second quarter. Tranquility Partners LLC now owns 388,753 shares of the company’s stock worth $4,763,000 after acquiring an additional 105,433 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $11.67 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of 10.51 and a beta of 1.14. The business’s fifty day moving average price is $12.03 and its 200 day moving average price is $12.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75. New Mountain Finance Co. has a 12 month low of $11.57 and a 12 month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $94.59 million for the quarter, compared to analyst estimates of $90.25 million. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, sell-side analysts anticipate that New Mountain Finance Co. will post 1.41 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 10.97%. The ex-dividend date was Monday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 115.32%.

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.