Hartline Investment Corp Acquires New Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Hartline Investment Corp acquired a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the first quarter, Holdings Channel reports. The firm acquired 19,704 shares of the company’s stock, valued at approximately $250,000.

A number of other hedge funds have also made changes to their positions in the stock. Confluence Investment Management LLC acquired a new position in New Mountain Finance in the first quarter worth approximately $5,249,000. International Assets Investment Management LLC grew its position in New Mountain Finance by 1,157.0% during the 4th quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock worth $5,423,000 after purchasing an additional 392,434 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new position in New Mountain Finance during the 4th quarter worth approximately $4,135,000. Van ECK Associates Corp grew its position in New Mountain Finance by 11.1% during the 4th quarter. Van ECK Associates Corp now owns 1,562,437 shares of the company’s stock worth $19,875,000 after purchasing an additional 156,652 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC grew its position in New Mountain Finance by 176.0% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 183,712 shares of the company’s stock worth $2,337,000 after purchasing an additional 117,153 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens bought 3,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was bought at an average price of $12.62 per share, with a total value of $44,170.00. Following the purchase, the director now directly owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.34% of the company’s stock.

New Mountain Finance Trading Down 0.6 %

NASDAQ NMFC traded down $0.07 on Friday, hitting $12.32. 355,691 shares of the stock were exchanged, compared to its average volume of 425,501. The company’s 50-day moving average price is $12.50 and its two-hundred day moving average price is $12.64. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.16 and a beta of 1.15. New Mountain Finance Co. has a 52-week low of $12.12 and a 52-week high of $13.23. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The company had revenue of $90.56 million for the quarter, compared to analyst estimates of $90.08 million. New Mountain Finance had a net margin of 31.67% and a return on equity of 11.80%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Research analysts predict that New Mountain Finance Co. will post 1.43 EPS for the current year.

New Mountain Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.39%. The ex-dividend date was Friday, June 14th. New Mountain Finance’s dividend payout ratio (DPR) is currently 122.52%.

About New Mountain Finance

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.