ProShare Advisors LLC Acquires 1,860 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

ProShare Advisors LLC grew its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 14.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,895 shares of the company’s stock after buying an additional 1,860 shares during the period. ProShare Advisors LLC’s holdings in New Mountain Finance were worth $182,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Oak Family Advisors LLC grew its holdings in New Mountain Finance by 0.7% in the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,020 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in New Mountain Finance by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 119,726 shares of the company’s stock valued at $1,517,000 after buying an additional 2,032 shares in the last quarter. Moloney Securities Asset Management LLC raised its stake in New Mountain Finance by 9.1% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 30,742 shares of the company’s stock worth $376,000 after buying an additional 2,571 shares during the period. GYL Financial Synergies LLC lifted its holdings in shares of New Mountain Finance by 18.5% in the 2nd quarter. GYL Financial Synergies LLC now owns 18,290 shares of the company’s stock worth $224,000 after purchasing an additional 2,860 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in New Mountain Finance in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Price Performance

NMFC stock opened at $11.85 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75. The business has a 50-day simple moving average of $12.13 and a two-hundred day simple moving average of $12.36. The company has a market capitalization of $1.28 billion, a P/E ratio of 10.68 and a beta of 1.14. New Mountain Finance Co. has a 52-week low of $11.60 and a 52-week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $94.59 million during the quarter, compared to the consensus estimate 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. Research analysts expect that New Mountain Finance Co. will post 1.41 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 10.80%. The ex-dividend date was Monday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 115.32%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their price objective on shares of 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 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.