JPMorgan Chase & Co. Has $15.08 Million Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

JPMorgan Chase & Co. raised its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,258,842 shares of the company’s stock after buying an additional 15,988 shares during the period. JPMorgan Chase & Co. owned about 1.17% of New Mountain Finance worth $15,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance in the 3rd quarter valued at approximately $26,000. Quarry LP lifted its position in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after buying an additional 1,342 shares during the period. Clearstead Trust LLC bought a new position in New Mountain Finance during the 2nd quarter valued at about $98,000. Quantbot Technologies LP acquired a new position in New Mountain Finance in the third quarter valued at about $129,000. Finally, Centiva Capital LP bought a new stake in New Mountain Finance during the third quarter worth about $130,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other New Mountain Finance news, CEO John Kline acquired 41,550 shares of New Mountain Finance stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the purchase, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. The trade was a 13.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Klinsky bought 150,609 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the transaction, the director now directly owns 3,632,326 shares in the company, valued at approximately $39,483,383.62. The trade was a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 324,530 shares of company stock worth $3,603,675 in the last quarter. Insiders own 10.22% of the company’s stock.

New Mountain Finance Price Performance

New Mountain Finance stock opened at $10.89 on Friday. The business’s fifty day moving average is $11.43 and its two-hundred day moving average is $11.84. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $1.17 billion, a P/E ratio of 10.37 and a beta of 1.15. New Mountain Finance Co. has a 52 week low of $10.61 and a 52 week high of $13.10.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.12%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.90%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

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.