New Mountain Finance Co. (NASDAQ:NMFC) Stake Increased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 107.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,291 shares of the company’s stock after acquiring an additional 13,642 shares during the quarter. ExodusPoint Capital Management LP’s holdings in New Mountain Finance were worth $296,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NMFC. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance during the third quarter worth about $26,000. Fox Run Management L.L.C. acquired a new stake in New Mountain Finance during the fourth quarter valued at approximately $114,000. MQS Management LLC bought a new position in New Mountain Finance during the 4th quarter worth approximately $123,000. Larson Financial Group LLC grew its position in shares of New Mountain Finance by 4,746.5% in the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock worth $123,000 after acquiring an additional 10,727 shares in the last quarter. Finally, New World Advisors LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $147,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of New Mountain Finance stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their target price on shares of New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th.

New Mountain Finance Stock Down 0.8 %

NASDAQ:NMFC opened at $9.24 on Monday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $11.11 and a 200-day moving average of $11.35. The firm has a market capitalization of $996.54 million, a PE ratio of 8.80 and a beta of 0.84. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.81.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. Analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.32 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 13.85%. New Mountain Finance’s dividend payout ratio is presently 123.08%.

New Mountain Finance Company Profile

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.