Genesee Capital Advisors LLC Acquires Shares of 16,508 New Mountain Finance Co. (NASDAQ:NMFC)

Genesee Capital Advisors LLC bought a new position in New Mountain Finance Co. (NASDAQ:NMFC) during the third quarter, Holdings Channel.com reports. The institutional investor bought 16,508 shares of the company’s stock, valued at approximately $198,000.

Several other institutional investors and hedge funds have also made changes to their positions in NMFC. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in New Mountain Finance by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock valued at $3,809,000 after buying an additional 44,114 shares in the last quarter. Condor Capital Management boosted its holdings in New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after purchasing an additional 76,739 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of New Mountain Finance in the 1st quarter valued at approximately $126,000. First National Trust Co purchased a new stake in shares of New Mountain Finance during the 2nd quarter valued at approximately $974,000. Finally, Van ECK Associates Corp lifted its holdings in New Mountain Finance by 21.6% in the second quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock valued at $25,467,000 after acquiring an additional 369,695 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their target price on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd.

New Mountain Finance Trading Down 0.7 %

NASDAQ:NMFC traded down $0.08 during trading hours on Monday, reaching $11.59. 126,091 shares of the stock were exchanged, compared to its average volume of 392,834. New Mountain Finance Co. has a twelve month low of $11.57 and a twelve month high of $13.23. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average of $12.03 and a two-hundred day moving average of $12.30. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.48 and a beta of 1.14.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The company 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 period in the previous year, the company posted $0.39 EPS. On average, equities analysts predict that New Mountain Finance Co. will post 1.41 EPS for the current year.

New Mountain Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.28 annualized dividend and a yield of 11.04%. New Mountain Finance’s dividend payout ratio is presently 115.32%.

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.