New Mountain Finance (NASDAQ:NMFC) Sets New 1-Year Low – Here’s Why

New Mountain Finance Co. (NASDAQ:NMFC) reached a new 52-week low on Friday . The company traded as low as $9.98 and last traded at $10.01, with a volume of 896864 shares trading hands. The stock had previously closed at $10.70.

New Mountain Finance Price Performance

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.52 and a beta of 0.84. 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 company’s 50-day moving average is $11.41 and its 200-day moving average is $11.48.

New Mountain Finance (NASDAQ:NMFC) last issued its 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). The company had revenue of $92.89 million during the quarter, compared to analyst estimates 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 expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

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

Insider Buying and Selling

In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the company’s stock in a transaction that occurred 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 acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 10.22% of the stock is currently owned by corporate insiders.

Institutional Trading of New Mountain Finance

Large investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in New Mountain Finance by 1,929.2% during the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company’s stock worth $11,101,000 after buying an additional 937,331 shares in the last quarter. Millennium Management LLC raised its stake in shares of New Mountain Finance by 102.2% in the fourth quarter. Millennium Management LLC now owns 519,532 shares of the company’s stock worth $5,850,000 after acquiring an additional 262,631 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of New Mountain Finance in the third quarter worth about $2,608,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of New Mountain Finance during the fourth quarter worth approximately $2,359,000. Finally, Naviter Wealth LLC bought a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $2,130,000. Institutional investors own 32.08% 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.