LSV Asset Management Boosts Stake in New Mountain Finance Corporation (NMFC)

LSV Asset Management grew its stake in shares of New Mountain Finance Corporation (NYSE:NMFC) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,706,726 shares of the investment management company’s stock after acquiring an additional 104,300 shares during the period. LSV Asset Management owned about 2.26% of New Mountain Finance Corporation worth $24,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NMFC. Muzinich & Co. Inc. lifted its position in shares of New Mountain Finance Corporation by 51.9% during the 1st quarter. Muzinich & Co. Inc. now owns 3,193,736 shares of the investment management company’s stock valued at $47,587,000 after acquiring an additional 1,091,245 shares during the period. UBS Group AG lifted its position in shares of New Mountain Finance Corporation by 26.9% during the 1st quarter. UBS Group AG now owns 1,275,093 shares of the investment management company’s stock valued at $18,999,000 after acquiring an additional 270,005 shares during the period. Round Table Services LLC lifted its position in shares of New Mountain Finance Corporation by 22.7% during the 2nd quarter. Round Table Services LLC now owns 1,300,398 shares of the investment management company’s stock valued at $18,921,000 after acquiring an additional 240,229 shares during the period. Van ECK Associates Corp lifted its position in shares of New Mountain Finance Corporation by 39.3% during the 1st quarter. Van ECK Associates Corp now owns 442,500 shares of the investment management company’s stock valued at $6,593,000 after acquiring an additional 124,792 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of New Mountain Finance Corporation by 30.4% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,768 shares of the investment management company’s stock valued at $6,631,000 after acquiring an additional 106,363 shares during the period. Institutional investors own 40.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of New Mountain Finance Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price target on shares of New Mountain Finance Corporation in a research report on Thursday, August 31st. Finally, BidaskClub downgraded shares of New Mountain Finance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 2nd.

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Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at 14.10 on Tuesday. New Mountain Finance Corporation has a 52-week low of $13.05 and a 52-week high of $15.00. The stock’s 50 day moving average is $14.27 and its 200-day moving average is $14.53.

New Mountain Finance Corporation (NYSE:NMFC) last posted its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $50.02 million during the quarter, compared to analysts’ expectations of $47.66 million. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. On average, equities research analysts expect that New Mountain Finance Corporation will post $1.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.34 per share. 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 is presently 86.62%.

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.

Institutional Ownership by Quarter for New Mountain Finance Corporation (NYSE:NMFC)

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