LSV Asset Management Purchases 353,062 Shares of New Mountain Finance Corporation $NMFC

LSV Asset Management lifted its position in New Mountain Finance Corporation (NASDAQ:NMFC) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,986,718 shares of the company’s stock after purchasing an additional 353,062 shares during the quarter. LSV Asset Management’s holdings in New Mountain Finance were worth $27,508,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NMFC. Millennium Management LLC increased its holdings in shares of New Mountain Finance by 36.9% in the first quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock worth $7,843,000 after purchasing an additional 191,518 shares during the period. Cetera Investment Advisers grew its position in New Mountain Finance by 45.6% in the second quarter. Cetera Investment Advisers now owns 35,164 shares of the company’s stock worth $371,000 after acquiring an additional 11,018 shares in the last quarter. XTX Topco Ltd purchased a new position in New Mountain Finance in the second quarter worth $172,000. Quantbot Technologies LP purchased a new position in New Mountain Finance in the second quarter worth $199,000. Finally, Marshall Wace LLP purchased a new position in New Mountain Finance in the second quarter worth $2,303,000. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NMFC shares. Wells Fargo & Company cut their target price on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Keefe, Bruyette & Woods cut their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. B. Riley Financial cut their price target on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings lowered shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $9.25.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $7.94 on Monday. The company has a 50-day simple moving average of $8.05 and a two-hundred day simple moving average of $8.63. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.26. New Mountain Finance Corporation has a 12-month low of $7.47 and a 12-month high of $11.04. The firm has a market cap of $749.93 million, a price-to-earnings ratio of -13.69 and a beta of 0.57.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $41.27 million during the quarter, compared to analyst estimates of $67.76 million. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. The company’s revenue was down 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities analysts forecast that New Mountain Finance Corporation will post 1.11 EPS for the current year.

New Mountain Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Tuesday, June 16th. New Mountain Finance’s dividend payout ratio is -220.69%.

Insider Activity

In other news, EVP Adam B. Weinstein acquired 12,900 shares of the stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $7.61 per share, with a total value of $98,169.00. Following the completion of the purchase, the executive vice president owned 751,756 shares in the company, valued at approximately $5,720,863.16. The trade was a 1.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laura C. Holson Boswerger acquired 12,500 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the purchase, the chief operating officer owned 81,030 shares of the company’s stock, valued at approximately $627,172.20. The trade was a 18.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 1,200,673 shares of company stock valued at $9,662,634. Insiders own 14.90% of the company’s stock.

New Mountain Finance Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.