MQS Management LLC Makes New Investment in New Mountain Finance Co. (NASDAQ:NMFC)

MQS Management LLC purchased a new position in New Mountain Finance Co. (NASDAQ:NMFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,894 shares of the company’s stock, valued at approximately $123,000. New Mountain Finance makes up 3.5% of MQS Management LLC’s holdings, making the stock its 16th largest holding.

A number of other institutional investors have also bought and sold shares of the business. Cerity Partners LLC grew its position in shares of New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after purchasing an additional 100,315 shares in the last quarter. HighTower Advisors LLC grew its position in shares of New Mountain Finance by 7.6% during the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after purchasing an additional 237,594 shares in the last quarter. Van ECK Associates Corp grew its position in shares of New Mountain Finance by 4.1% during the fourth quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company’s stock valued at $26,378,000 after purchasing an additional 93,329 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of New Mountain Finance by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company’s stock valued at $15,081,000 after purchasing an additional 15,988 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of New Mountain Finance by 0.3% during the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company’s stock valued at $4,840,000 after purchasing an additional 1,472 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Up 1.1 %

Shares of New Mountain Finance stock opened at $11.38 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.84 and a beta of 1.16. New Mountain Finance Co. has a twelve month low of $10.61 and a twelve month high of $13.01. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $11.50 and a 200-day moving average price of $11.64.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. Equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.32 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.25%. New Mountain Finance’s dividend payout ratio is currently 123.08%.

Insider Buying and Selling

In other news, Director Steven B. Klinsky acquired 72,280 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $11.28 per share, with a total value of $815,318.40. Following the completion of the purchase, the director now directly owns 4,285,505 shares in the company, valued at approximately $48,340,496.40. This trade represents a 1.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Ogens acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now owns 179,020 shares of the company’s stock, valued at $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.22% of the stock is currently owned by company insiders.

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.