Stifel Financial Corp Grows Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Stifel Financial Corp boosted its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 5.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 47,138 shares of the company’s stock after purchasing an additional 2,389 shares during the quarter. Stifel Financial Corp’s holdings in New Mountain Finance were worth $565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance in the third quarter worth about $26,000. Quarry LP lifted its holdings in New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after purchasing an additional 1,342 shares in the last quarter. Clearstead Trust LLC bought a new position in New Mountain Finance in the 2nd quarter worth approximately $98,000. Quantbot Technologies LP purchased a new stake in New Mountain Finance during the 3rd quarter valued at approximately $129,000. Finally, Centiva Capital LP bought a new stake in shares of New Mountain Finance during the third quarter valued at approximately $130,000. 32.08% of the stock is owned by institutional investors.

New Mountain Finance Trading Down 0.3 %

Shares of New Mountain Finance stock opened at $11.20 on Friday. New Mountain Finance Co. has a twelve month low of $10.61 and a twelve month high of $13.10. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $11.50 and a 200-day moving average price of $11.93. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 10.67 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. Equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 11.79%. The ex-dividend date is Tuesday, December 17th. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Insider Activity at New Mountain Finance

In related news, Director Steven B. Klinsky acquired 150,609 shares of New Mountain Finance stock in a transaction on Wednesday, November 6th. The shares were bought at an average cost of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the purchase, the director now directly owns 3,632,326 shares of the company’s stock, valued at $39,483,383.62. The trade was a 4.33 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Kline acquired 41,550 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the transaction, the chief executive officer now owns 351,783 shares of the company’s stock, valued at approximately $3,841,470.36. This trade represents a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 324,530 shares of company stock valued at $3,603,675 over the last 90 days. 10.34% of the stock is owned by corporate insiders.

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.