Mackenzie Financial Corp lessened its holdings in New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) by 37.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,896 shares of the company’s stock after selling 35,928 shares during the quarter. Mackenzie Financial Corp’s holdings in New Mountain Finance were worth $713,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its holdings in New Mountain Finance by 7.3% in the second quarter. Cerity Partners LLC now owns 11,830 shares of the company’s stock worth $141,000 after purchasing an additional 800 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in New Mountain Finance by 22.0% in the second quarter. Oppenheimer & Co. Inc. now owns 37,575 shares of the company’s stock worth $448,000 after purchasing an additional 6,775 shares during the period. Coombe Bender & Co LLC acquired a new position in New Mountain Finance in the second quarter worth $299,000. Mckinley Capital Management LLC Delaware boosted its holdings in New Mountain Finance by 0.6% in the second quarter. Mckinley Capital Management LLC Delaware now owns 165,630 shares of the company’s stock worth $1,973,000 after purchasing an additional 998 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in New Mountain Finance by 38.9% in the second quarter. Janney Montgomery Scott LLC now owns 132,820 shares of the company’s stock worth $1,585,000 after purchasing an additional 37,208 shares during the period. Institutional investors and hedge funds own 31.74% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on NMFC. StockNews.com began coverage on shares of New Mountain Finance in a report on Wednesday, October 12th. They set a “hold” rating for the company. B. Riley began coverage on shares of New Mountain Finance in a report on Friday, October 14th. They set a “neutral” rating for the company. Hovde Group reduced their price target on shares of New Mountain Finance to $12.50 in a report on Wednesday, October 5th. Finally, Wells Fargo & Company reduced their price target on shares of New Mountain Finance from $13.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, November 10th.
New Mountain Finance Stock Performance
New Mountain Finance (NASDAQ:NMFC – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $78.45 million during the quarter, compared to the consensus estimate of $75.02 million. New Mountain Finance had a net margin of 38.82% and a return on equity of 9.24%. Sell-side analysts predict that New Mountain Finance Co. will post 1.28 earnings per share for the current fiscal year.
New Mountain Finance Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $1.28 annualized dividend and a yield of 10.04%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.30. New Mountain Finance’s dividend payout ratio is presently 112.15%.
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.
- Get a free copy of the StockNews.com research report on New Mountain Finance (NMFC)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
Receive News & Ratings for New Mountain Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance and related companies with MarketBeat.com's FREE daily email newsletter.