Confluence Investment Management LLC grew its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 0.7% during the first quarter, HoldingsChannel reports. The firm owned 924,957 shares of the investment management company’s stock after acquiring an additional 6,603 shares during the quarter. Confluence Investment Management LLC’s holdings in New Mountain Finance were worth $12,552,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Macquarie Group Ltd. lifted its stake in New Mountain Finance by 1.3% in the 4th quarter. Macquarie Group Ltd. now owns 72,800 shares of the investment management company’s stock valued at $916,000 after purchasing an additional 900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in New Mountain Finance by 4.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,032 shares of the investment management company’s stock valued at $265,000 after purchasing an additional 932 shares during the last quarter. Green Square Capital LLC lifted its stake in New Mountain Finance by 2.5% in the 4th quarter. Green Square Capital LLC now owns 83,100 shares of the investment management company’s stock valued at $1,045,000 after purchasing an additional 2,017 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in New Mountain Finance by 13.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 20,452 shares of the investment management company’s stock valued at $249,000 after purchasing an additional 2,406 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in New Mountain Finance by 12.8% in the 4th quarter. LPL Financial LLC now owns 29,291 shares of the investment management company’s stock valued at $368,000 after purchasing an additional 3,326 shares during the last quarter. Hedge funds and other institutional investors own 33.82% of the company’s stock.
Several equities analysts recently commented on NMFC shares. Zacks Investment Research downgraded shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research note on Saturday, January 12th. TheStreet raised shares of New Mountain Finance from a “c” rating to a “b-” rating in a research note on Friday, March 1st.
NMFC stock opened at $13.80 on Wednesday. The firm has a market cap of $1.10 billion, a PE ratio of 10.00 and a beta of 0.61. New Mountain Finance Corp. has a 52-week low of $12.06 and a 52-week high of $14.30. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.38.
New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Wednesday, February 27th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $63.51 million during the quarter, compared to the consensus estimate of $60.02 million. New Mountain Finance had a net margin of 31.26% and a return on equity of 10.33%. On average, research analysts predict that New Mountain Finance Corp. will post 1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 9.86%. The ex-dividend date was Thursday, March 14th. New Mountain Finance’s payout ratio is currently 98.55%.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
Further Reading: What is an SEC Filing?
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