Muzinich & Co. Inc. Boosts Stake in New Mountain Finance Corporation $NMFC

Muzinich & Co. Inc. increased its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 16.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,056 shares of the company’s stock after buying an additional 95,582 shares during the quarter. New Mountain Finance comprises approximately 2.5% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 13th biggest holding. Muzinich & Co. Inc. owned 0.63% of New Mountain Finance worth $6,469,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NMFC. International Assets Investment Management LLC raised its holdings in shares of New Mountain Finance by 3.8% during the second quarter. International Assets Investment Management LLC now owns 32,438 shares of the company’s stock worth $342,000 after purchasing an additional 1,179 shares during the last quarter. Farther Finance Advisors LLC raised its position in New Mountain Finance by 2.9% in the second quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after purchasing an additional 1,359 shares during the period. Union Bancaire Privee UBP SA lifted its stake in New Mountain Finance by 5.1% during the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock worth $304,000 after purchasing an additional 1,393 shares in the last quarter. Spire Wealth Management grew its stake in shares of New Mountain Finance by 4.0% in the second quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock valued at $414,000 after buying an additional 1,500 shares in the last quarter. Finally, MAI Capital Management raised its holdings in shares of New Mountain Finance by 44.9% in the 1st quarter. MAI Capital Management now owns 7,295 shares of the company’s stock valued at $80,000 after buying an additional 2,261 shares during the period. 32.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NMFC shares. New Street Research set a $10.00 target price on New Mountain Finance in a research report on Friday, October 10th. Keefe, Bruyette & Woods cut their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Zacks Research raised shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Wednesday, October 8th. Finally, Bank of America reiterated an “underperform” rating and issued a $10.00 target price (down from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $10.17.

New Mountain Finance Stock Performance

Shares of NMFC stock opened at $9.15 on Tuesday. The firm has a market cap of $943.91 million, a price-to-earnings ratio of 14.08 and a beta of 0.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.99 and a current ratio of 1.99. New Mountain Finance Corporation has a 1 year low of $8.84 and a 1 year high of $12.05. The stock’s 50-day moving average is $9.48 and its two-hundred day moving average is $9.96.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm had revenue of $80.53 million for the quarter, compared to analyst estimates of $83.91 million. During the same quarter last year, the business earned $0.34 earnings per share. New Mountain Finance’s revenue was down 15.5% compared to the same quarter last year. Analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Wednesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 196.92%.

About New Mountain Finance

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.