16,508 Shares in New Mountain Finance Co. (NASDAQ:NMFC) Acquired by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC purchased a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,508 shares of the company’s stock, valued at approximately $198,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. LSV Asset Management boosted its stake in shares of New Mountain Finance by 0.7% during the second quarter. LSV Asset Management now owns 2,548,475 shares of the company’s stock valued at $31,193,000 after purchasing an additional 17,300 shares in the last quarter. Van ECK Associates Corp grew its position in shares of New Mountain Finance by 21.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock worth $25,467,000 after buying an additional 369,695 shares during the last quarter. Millennium Management LLC raised its stake in shares of New Mountain Finance by 5.4% during the 2nd quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock worth $5,591,000 after acquiring an additional 23,406 shares in the last quarter. Confluence Investment Management LLC boosted its stake in New Mountain Finance by 2.2% in the second quarter. Confluence Investment Management LLC now owns 423,578 shares of the company’s stock valued at $5,185,000 after acquiring an additional 9,296 shares in the last quarter. Finally, Tranquility Partners LLC boosted its position in shares of New Mountain Finance by 37.2% in the 2nd quarter. Tranquility Partners LLC now owns 388,753 shares of the company’s stock worth $4,763,000 after purchasing an additional 105,433 shares in the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their target price on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd.

New Mountain Finance Stock Performance

NASDAQ NMFC traded down $0.08 on Monday, reaching $11.59. 126,091 shares of the company’s stock traded hands, compared to its average volume of 392,834. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 10.48 and a beta of 1.14. The stock has a 50 day moving average price of $12.03 and a 200-day moving average price of $12.30. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75. New Mountain Finance Co. has a fifty-two week low of $11.57 and a fifty-two week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. The company had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. During the same period in the previous year, the company posted $0.39 earnings per share. Equities research analysts predict that New Mountain Finance Co. will post 1.41 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend was Monday, September 16th. New Mountain Finance’s payout ratio is 115.32%.

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.