Allen Investment Management LLC Raises Position in New Mountain Finance Corporation (NMFC)
Allen Investment Management LLC raised its stake in shares of New Mountain Finance Corporation (NYSE:NMFC) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,937 shares of the investment management company’s stock after buying an additional 2,768 shares during the period. Allen Investment Management LLC’s holdings in New Mountain Finance Corporation were worth $479,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its position in New Mountain Finance Corporation by 49.7% in the first quarter. Global X Management Co. LLC now owns 9,057 shares of the investment management company’s stock valued at $135,000 after buying an additional 3,007 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in New Mountain Finance Corporation during the first quarter valued at $148,000. Airain ltd purchased a new position in New Mountain Finance Corporation during the second quarter valued at $149,000. Virginia Retirement Systems ET AL purchased a new position in New Mountain Finance Corporation during the first quarter valued at $167,000. Finally, BlueCrest Capital Management Ltd purchased a new position in New Mountain Finance Corporation during the first quarter valued at $186,000. 40.76% of the stock is owned by institutional investors and hedge funds.
Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at 14.10 on Thursday. The company has a 50-day moving average price of $14.34 and a 200 day moving average price of $14.58. New Mountain Finance Corporation has a 1-year low of $13.05 and a 1-year high of $15.00.
New Mountain Finance Corporation (NYSE:NMFC) last announced its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. The business had revenue of $50.02 million for the quarter, compared to analyst estimates of $47.66 million. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. Equities research analysts predict that New Mountain Finance Corporation will post $1.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 9.65%. The ex-dividend date is Thursday, September 14th. New Mountain Finance Corporation’s dividend payout ratio (DPR) is presently 86.62%.
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A number of brokerages recently commented on NMFC. Zacks Investment Research upgraded New Mountain Finance Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub cut New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price target on shares of New Mountain Finance Corporation in a research report on Tuesday, July 25th.
In other New Mountain Finance Corporation news, CFO Shiraz Kajee purchased 2,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were purchased at an average price of $14.63 per share, with a total value of $29,260.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $29,260. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.73% of the company’s stock.
New Mountain Finance Corporation Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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