Mackenzie Financial Corp Takes $374,000 Position in New Mountain Finance Corporation (NASDAQ:NMFC)

Mackenzie Financial Corp bought a new stake in New Mountain Finance Corporation (NASDAQ:NMFC) in the first quarter, Holdings Channel reports. The institutional investor bought 33,890 shares of the company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Merit Financial Group LLC raised its holdings in shares of New Mountain Finance by 0.4% in the first quarter. Merit Financial Group LLC now owns 260,572 shares of the company’s stock valued at $2,874,000 after buying an additional 1,052 shares during the last quarter. Vise Technologies Inc. raised its holdings in shares of New Mountain Finance by 7.2% in the fourth quarter. Vise Technologies Inc. now owns 16,494 shares of the company’s stock valued at $186,000 after buying an additional 1,110 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of New Mountain Finance by 2.7% in the fourth quarter. Lido Advisors LLC now owns 45,557 shares of the company’s stock valued at $513,000 after buying an additional 1,199 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of New Mountain Finance by 7.9% in the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock valued at $371,000 after buying an additional 2,450 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of New Mountain Finance by 17.2% in the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company’s stock valued at $204,000 after buying an additional 2,664 shares during the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Trading Up 0.5%

NASDAQ NMFC opened at $10.25 on Friday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 13.49 and a beta of 0.82. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.44. The firm has a 50-day moving average price of $10.56 and a 200 day moving average price of $10.74. The company has a quick ratio of 2.22, a current ratio of 1.42 and a debt-to-equity ratio of 1.35.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The firm had revenue of $83.49 million during the quarter, compared to analysts’ expectations of $84.57 million. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts expect that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, September 16th. New Mountain Finance’s dividend payout ratio is presently 168.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. B. Riley assumed coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They set a “neutral” rating and a $11.00 price target for the company. Finally, Oppenheimer set a $11.00 price target on shares of New Mountain Finance and gave the stock a “market perform” rating in a report on Wednesday.

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.