SageView Advisory Group LLC Increases Position in New Mountain Finance Co. (NASDAQ:NMFC)

Posted by Defense World Staff on Jul 24th, 2023

SageView Advisory Group LLC grew its holdings in New Mountain Finance Co. (NASDAQ:NMFC – Free Report) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,921 shares of the company’s stock after purchasing an additional 1,975 shares during the quarter. SageView Advisory Group LLC’s holdings in New Mountain Finance were worth $230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC purchased a new position in New Mountain Finance during the first quarter worth approximately $94,000. Janney Montgomery Scott LLC increased its position in New Mountain Finance by 3.9% during the first quarter. Janney Montgomery Scott LLC now owns 141,210 shares of the company’s stock worth $1,719,000 after purchasing an additional 5,347 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in New Mountain Finance by 59.1% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,745 shares of the company’s stock worth $217,000 after purchasing an additional 6,590 shares during the period. Simplicity Solutions LLC acquired a new position in New Mountain Finance in the 1st quarter valued at about $215,000. Finally, Caprock Group LLC purchased a new stake in shares of New Mountain Finance in the 1st quarter valued at approximately $386,000. 31.46% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Stock Up 1.0 %

Shares of NASDAQ NMFC opened at $12.75 on Monday. New Mountain Finance Co. has a 52-week low of $11.17 and a 52-week high of $13.59. The business’s 50 day moving average is $12.35 and its two-hundred day moving average is $12.20. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 16.35 and a beta of 1.15. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.49.

New Mountain Finance (NASDAQ:NMFC – Get Free Report) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. New Mountain Finance had a return on equity of 10.36% and a net margin of 26.18%. The firm had revenue of $91.95 million for the quarter, compared to the consensus estimate of $87.05 million. Research analysts predict that New Mountain Finance Co. will post 1.53 EPS for the current year.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.35 dividend. This represents a dividend yield of 10.8%. The ex-dividend date of this dividend was Thursday, June 15th. New Mountain Finance’s payout ratio is 164.10%.

Insider Activity at New Mountain Finance

In other New Mountain Finance news, CFO Laura Holson Boswerger bought 14,975 shares of New Mountain Finance stock in a transaction on Thursday, May 11th. The shares were bought at an average cost of $11.89 per share, for a total transaction of $178,052.75. Following the acquisition, the chief financial officer now directly owns 49,398 shares in the company, valued at $587,342.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NMFC shares. StockNews.com started coverage on shares of New Mountain Finance in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Wells Fargo & Company downgraded New Mountain Finance from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 18th.

New Mountain Finance Profile

(Free Report)

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.