New Mountain Finance Co. (NASDAQ:NMFC) Sees Large Growth in Short Interest

New Mountain Finance Co. (NASDAQ:NMFC) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,220,000 shares, a growth of 17.5% from the June 30th total of 1,890,000 shares. Based on an average daily trading volume, of 387,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 2.4% of the company’s shares are short sold.

Insider Transactions at New Mountain Finance

In related news, Director David Ogens bought 3,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the transaction, the director now owns 166,391 shares of the company’s stock, valued at $2,099,854.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.22% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently modified their holdings of the business. Mutual Advisors LLC lifted its stake in New Mountain Finance by 5.0% in the 4th quarter. Mutual Advisors LLC now owns 25,246 shares of the company’s stock valued at $321,000 after acquiring an additional 1,200 shares in the last quarter. International Assets Investment Management LLC lifted its stake in New Mountain Finance by 1,157.0% in the 4th quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock valued at $5,423,000 after acquiring an additional 392,434 shares in the last quarter. Cerity Partners LLC lifted its stake in New Mountain Finance by 2.6% in the 4th quarter. Cerity Partners LLC now owns 3,574,600 shares of the company’s stock valued at $45,469,000 after acquiring an additional 91,379 shares in the last quarter. Morton Brown Family Wealth LLC bought a new stake in New Mountain Finance in the 4th quarter valued at approximately $35,000. Finally, NewEdge Wealth LLC bought a new stake in New Mountain Finance in the 4th quarter valued at approximately $382,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Stock Up 0.6 %

Shares of NMFC traded up $0.08 on Tuesday, hitting $12.50. The company’s stock had a trading volume of 196,365 shares, compared to its average volume of 408,292. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $12.40 and its 200-day moving average price is $12.57. New Mountain Finance has a fifty-two week low of $12.12 and a fifty-two week high of $13.23. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 11.26 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.02). New Mountain Finance had a net margin of 31.67% and a return on equity of 11.80%. The business had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. New Mountain Finance’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that New Mountain Finance will post 1.42 EPS for the current year.

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.