New Mountain Finance Co. (NASDAQ:NMFC) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,811 shares of the company’s stock after purchasing an additional 23,406 shares during the period. Millennium Management LLC owned 0.42% of New Mountain Finance worth $5,591,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new position in shares of New Mountain Finance during the first quarter valued at $40,000. EntryPoint Capital LLC bought a new position in New Mountain Finance in the 1st quarter worth about $52,000. Clearstead Trust LLC bought a new stake in shares of New Mountain Finance during the second quarter valued at approximately $98,000. Lazard Asset Management LLC acquired a new position in shares of New Mountain Finance during the first quarter worth approximately $126,000. Finally, ProShare Advisors LLC grew its holdings in New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after buying an additional 1,800 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Trading Up 0.1 %

Shares of NASDAQ:NMFC opened at $11.70 on Friday. The company has a 50 day moving average of $12.06 and a 200-day moving average of $12.34. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.40. The firm has a market cap of $1.26 billion, a P/E ratio of 10.64 and a beta of 1.14. New Mountain Finance Co. has a twelve month low of $11.60 and a twelve month high of $13.23.

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

New Mountain Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 10.94%. The ex-dividend date was Monday, September 16th. New Mountain Finance’s payout ratio is currently 116.36%.

Analysts Set New Price Targets

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

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.