Campbell & CO Investment Adviser LLC Invests $169,000 in New Mountain Finance Corporation $NMFC

Campbell & CO Investment Adviser LLC bought a new stake in New Mountain Finance Corporation (NASDAQ:NMFC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,998 shares of the company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank grew its stake in New Mountain Finance by 311.8% during the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after acquiring an additional 3,433 shares in the last quarter. MAI Capital Management lifted its stake in New Mountain Finance by 44.9% in the 1st quarter. MAI Capital Management now owns 7,295 shares of the company’s stock worth $80,000 after purchasing an additional 2,261 shares in the last quarter. Quarry LP boosted its holdings in shares of New Mountain Finance by 360.7% during the 1st quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after purchasing an additional 6,338 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of New Mountain Finance in the second quarter valued at approximately $126,000. Finally, Entropy Technologies LP purchased a new stake in shares of New Mountain Finance in the first quarter valued at approximately $130,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NMFC. Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. New Street Research set a $10.00 price target on New Mountain Finance in a report on Friday, October 10th. B. Riley reissued a “neutral” rating and issued a $10.00 price objective (down previously from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Keefe, Bruyette & Woods cut their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Finally, Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.17.

New Mountain Finance Stock Down 1.0%

Shares of NMFC opened at $9.10 on Wednesday. The company’s 50-day moving average price is $9.59 and its 200 day moving average price is $10.20. New Mountain Finance Corporation has a 12-month low of $8.84 and a 12-month high of $12.05. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. The firm has a market cap of $938.76 million, a P/E ratio of 14.00 and a beta of 0.77.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The business had revenue of $80.53 million for the quarter, compared to the consensus estimate of $83.91 million. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue was down 15.5% on a year-over-year basis. On average, sell-side analysts forecast that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date is Wednesday, December 17th. New Mountain Finance’s dividend payout ratio is 196.92%.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, EVP Adam B. Weinstein purchased 49,750 shares of New Mountain Finance stock in a transaction dated Monday, September 15th. The shares were acquired at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the transaction, the executive vice president owned 652,490 shares of the company’s stock, valued at $6,544,474.70. This trade represents a 8.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven B. Klinsky purchased 106,691 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was acquired at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the transaction, the director directly owned 4,370,857 shares in the company, valued at $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 11.71% of the company’s stock.

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.