Muzinich & Co. Inc. Acquires 178,381 Shares of New Mountain Finance Corporation $NMFC

Muzinich & Co. Inc. raised its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 26.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 849,437 shares of the company’s stock after buying an additional 178,381 shares during the quarter. New Mountain Finance comprises 2.5% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 15th largest position. Muzinich & Co. Inc.’s holdings in New Mountain Finance were worth $7,823,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Apella Capital LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $161,000. Sound Income Strategies LLC grew its position in shares of New Mountain Finance by 699.5% in the 4th quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock worth $70,000 after buying an additional 6,722 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $119,000. Genesee Capital Advisors LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $99,000. Finally, TrueMark Investments LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $171,000. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Price Performance

Shares of NMFC stock opened at $8.05 on Wednesday. The stock has a market cap of $793.01 million, a price-to-earnings ratio of 53.67 and a beta of 0.54. The business’s fifty day moving average is $8.05 and its 200 day moving average is $8.92. New Mountain Finance Corporation has a twelve month low of $7.47 and a twelve month high of $11.04. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 15.9%. The ex-dividend date of this dividend was Tuesday, March 17th. New Mountain Finance’s payout ratio is 853.33%.

Insiders Place Their Bets

In related news, COO Laura C. Holson Boswerger bought 12,500 shares of the company’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the acquisition, the chief operating officer owned 81,030 shares of the company’s stock, valued at $627,172.20. The trade was a 18.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Klinsky bought 276,242 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $8.05 per share, for a total transaction of $2,223,748.10. Following the completion of the acquisition, the director directly owned 5,370,858 shares of the company’s stock, valued at approximately $43,235,406.90. This represents a 5.42% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 1,200,673 shares of company stock valued at $9,662,634. 14.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley Financial cut their price objective on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods dropped their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Sunday. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $9.25.

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.