New Mountain Finance (NASDAQ:NMFC) Sees Large Volume Increase

New Mountain Finance Co. (NASDAQ:NMFC) saw strong trading volume on Friday . 176,433 shares traded hands during trading, a decline of 58% from the previous session’s volume of 419,478 shares.The stock last traded at $12.24 and had previously closed at $12.21.

New Mountain Finance Stock Performance

The company has a market capitalization of $1.31 billion, a PE ratio of 11.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average price of $12.53 and a 200 day moving average price of $12.66.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, May 1st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). The business had revenue of $90.56 million for the quarter, compared to analysts’ expectations of $90.08 million. New Mountain Finance had a net margin of 31.67% and a return on equity of 11.80%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Equities analysts forecast that New Mountain Finance Co. will post 1.43 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.36%. The ex-dividend date is Friday, June 14th. New Mountain Finance’s dividend payout ratio (DPR) is 115.32%.

Insider Activity

In other news, Director David Ogens bought 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $12.62 per share, with a total value of $44,170.00. Following the completion of the purchase, the director now directly owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.22% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SVB Wealth LLC boosted its position in shares of New Mountain Finance by 21.6% in the 1st quarter. SVB Wealth LLC now owns 40,052 shares of the company’s stock valued at $507,000 after purchasing an additional 7,125 shares during the period. Lazard Asset Management LLC acquired a new stake in New Mountain Finance during the 1st quarter worth about $126,000. Advisors Asset Management Inc. boosted its position in New Mountain Finance by 3.0% during the 1st quarter. Advisors Asset Management Inc. now owns 314,702 shares of the company’s stock worth $3,987,000 after acquiring an additional 9,286 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of New Mountain Finance during the 1st quarter worth about $52,000. Finally, MQS Management LLC raised its stake in shares of New Mountain Finance by 316.4% during the 1st quarter. MQS Management LLC now owns 61,879 shares of the company’s stock worth $784,000 after purchasing an additional 47,018 shares in the last quarter. Institutional investors and hedge funds 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.