Sanders Morris Harris LLC lessened its stake in shares of New Mountain Finance Corp. (NYSE:NMFC) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 56,075 shares of the investment management company’s stock after selling 2,500 shares during the quarter. Sanders Morris Harris LLC owned about 0.07% of New Mountain Finance worth $761,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. LSV Asset Management increased its position in New Mountain Finance by 32.2% during the fourth quarter. LSV Asset Management now owns 2,065,171 shares of the investment management company’s stock worth $25,979,000 after acquiring an additional 502,561 shares during the period. Confluence Investment Management LLC increased its position in New Mountain Finance by 0.7% during the first quarter. Confluence Investment Management LLC now owns 924,957 shares of the investment management company’s stock worth $12,552,000 after acquiring an additional 6,603 shares during the period. Dimension Capital Management LLC increased its position in New Mountain Finance by 34.9% during the fourth quarter. Dimension Capital Management LLC now owns 844,631 shares of the investment management company’s stock worth $10,411,000 after acquiring an additional 218,430 shares during the period. Cliffwater LLC increased its position in New Mountain Finance by 42.4% during the fourth quarter. Cliffwater LLC now owns 772,080 shares of the investment management company’s stock worth $9,713,000 after acquiring an additional 229,714 shares during the period. Finally, Legal & General Group Plc increased its position in New Mountain Finance by 14.8% during the fourth quarter. Legal & General Group Plc now owns 348,288 shares of the investment management company’s stock worth $4,394,000 after acquiring an additional 44,878 shares during the period. Institutional investors own 34.05% of the company’s stock.
Several equities analysts have commented on NMFC shares. Zacks Investment Research lowered shares of New Mountain Finance from a “buy” rating to a “hold” rating in a report on Saturday, January 12th. TheStreet raised shares of New Mountain Finance from a “c” rating to a “b-” rating in a report on Friday, March 1st.
New Mountain Finance (NYSE:NMFC) last released its earnings results on Wednesday, February 27th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. New Mountain Finance had a net margin of 38.07% and a return on equity of 10.37%. The firm had revenue of $63.51 million for the quarter, compared to analyst estimates of $60.02 million. Equities analysts predict that New Mountain Finance Corp. will post 1.4 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 9.61%. The ex-dividend date is Thursday, June 13th. New Mountain Finance’s dividend payout ratio (DPR) 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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