Zacks Investment Research downgraded shares of New Mountain Finance Corp. (NYSE:NMFC) from a hold rating to a sell rating in a report released on Friday, May 12th.
New Mountain Finance Corp. (NYSE NMFC) traded down 0.69% during midday trading on Friday, reaching $14.40. 439,029 shares of the company traded hands. The firm has a 50-day moving average price of $14.64 and a 200-day moving average price of $14.52. The firm has a market capitalization of $1.09 billion and a price-to-earnings ratio of 7.74. New Mountain Finance Corp. has a one year low of $12.14 and a one year high of $15.00.
New Mountain Finance Corp. (NYSE:NMFC) last posted its earnings results on Monday, May 8th. The investment management company reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $43.31 million for the quarter, compared to analysts’ expectations of $44.09 million. Equities analysts predict that New Mountain Finance Corp. will post $1.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 9.44%. The ex-dividend date of this dividend is Wednesday, June 14th.
In other New Mountain Finance Corp. news, CFO Shiraz Kajee purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average price of $14.63 per share, for a total transaction of $29,260.00. Following the transaction, the chief financial officer now owns 2,000 shares in the company, valued at approximately $29,260. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Ogens purchased 3,600 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $14.37 per share, with a total value of $51,732.00. Following the transaction, the director now owns 49,654 shares in the company, valued at approximately $713,527.98. The disclosure for this purchase can be found here.
Several hedge funds have recently modified their holdings of NMFC. Global X Management Co. LLC increased its stake in New Mountain Finance Corp. by 49.7% in the first quarter. Global X Management Co. LLC now owns 9,057 shares of the investment management company’s stock worth $135,000 after buying an additional 3,007 shares during the last quarter. Allianz Asset Management AG purchased a new stake in New Mountain Finance Corp. during the fourth quarter worth $147,000. DekaBank Deutsche Girozentrale purchased a new stake in New Mountain Finance Corp. during the first quarter worth $148,000. Trexquant Investment LP purchased a new stake in New Mountain Finance Corp. during the fourth quarter worth $153,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in New Mountain Finance Corp. during the first quarter worth $167,000.
New Mountain Finance Corp. 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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