Raymond James Financial Inc. Makes New Investment in New Mountain Finance Co. (NASDAQ:NMFC)

Raymond James Financial Inc. purchased a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,804 shares of the company’s stock, valued at approximately $944,000. Raymond James Financial Inc. owned about 0.08% of New Mountain Finance as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. SVB Wealth LLC purchased a new stake in New Mountain Finance during the fourth quarter valued at approximately $279,000. Oppenheimer & Co. Inc. lifted its holdings in shares of New Mountain Finance by 13.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company’s stock valued at $351,000 after purchasing an additional 3,708 shares during the last quarter. GraniteShares Advisors LLC boosted its position in shares of New Mountain Finance by 21.6% in the 4th quarter. GraniteShares Advisors LLC now owns 218,414 shares of the company’s stock worth $2,459,000 after purchasing an additional 38,786 shares in the last quarter. New World Advisors LLC purchased a new position in New Mountain Finance during the 4th quarter worth $147,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in New Mountain Finance during the 4th quarter valued at about $1,170,000. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $10.00 on Friday. New Mountain Finance Co. has a fifty-two week low of $9.96 and a fifty-two week high of $12.81. 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 company has a market cap of $1.08 billion, a PE ratio of 9.52 and a beta of 0.84. The business has a 50-day simple moving average of $11.41 and a two-hundred day simple moving average of $11.48.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $92.89 million for the quarter, compared to analyst estimates of $93.23 million. As a group, equities analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 12.80%. New Mountain Finance’s payout ratio is presently 123.08%.

Insider Activity

In other New Mountain Finance news, Director David Ogens bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now directly owns 179,020 shares of the company’s stock, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.22% of the company’s stock.

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.