Confluence Investment Management LLC grew its position in New Mountain Finance Corp. (NYSE:NMFC) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 924,957 shares of the investment management company’s stock after acquiring an additional 6,603 shares during the period. Confluence Investment Management LLC owned 1.15% of New Mountain Finance worth $12,552,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in New Mountain Finance during the 4th quarter worth $58,000. IFP Advisors Inc grew its holdings in shares of New Mountain Finance by 39.5% in the 4th quarter. IFP Advisors Inc now owns 12,856 shares of the investment management company’s stock valued at $163,000 after buying an additional 3,642 shares during the period. AJ Wealth Strategies LLC acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at $180,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of New Mountain Finance in the 4th quarter valued at $175,000. Finally, Squarepoint Ops LLC acquired a new position in shares of New Mountain Finance in the 4th quarter valued at $181,000. Institutional investors own 33.82% of the company’s stock.
Several brokerages have recently issued reports on NMFC. TheStreet raised shares of New Mountain Finance from a “c” rating to a “b-” rating in a report on Friday, March 1st. Zacks Investment Research lowered shares of New Mountain Finance from a “buy” rating to a “hold” rating in a report on Saturday, January 12th.
New Mountain Finance (NYSE:NMFC) last announced its earnings results on Wednesday, February 27th. The investment management company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $63.51 million during the quarter, compared to analyst estimates of $60.02 million. New Mountain Finance had a net margin of 31.26% and a return on equity of 10.33%. Sell-side analysts expect that New Mountain Finance Corp. will post 1.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date of this dividend was Thursday, March 14th. New Mountain Finance’s payout ratio is presently 98.55%.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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