Confluence Investment Management LLC Has $4.84 Million Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Confluence Investment Management LLC increased its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 429,806 shares of the company’s stock after buying an additional 1,472 shares during the quarter. Confluence Investment Management LLC owned approximately 0.40% of New Mountain Finance worth $4,840,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price objective on 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.

Insiders Place Their Bets

In related news, CEO John Kline acquired 41,550 shares of the stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the purchase, the chief executive officer now directly owns 351,783 shares in the company, valued at approximately $3,841,470.36. The trade was a 13.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven B. Klinsky bought 150,609 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the transaction, the director now owns 3,632,326 shares in the company, valued at approximately $39,483,383.62. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 324,530 shares of company stock worth $3,603,675 in the last 90 days. Company insiders own 10.22% of the company’s stock.

New Mountain Finance Price Performance

NASDAQ:NMFC opened at $11.34 on Friday. The firm’s fifty day moving average price is $11.48 and its two-hundred day moving average price is $11.89. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.22 billion, a P/E ratio of 10.80 and a beta of 1.15. New Mountain Finance Co. has a one year low of $10.61 and a one year high of $13.10.

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). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 11.64%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is currently 121.90%.

New Mountain Finance 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.