Alps Advisors Inc. grew its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 1,465.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,600 shares of the investment management company’s stock after acquiring an additional 271,100 shares during the period. Alps Advisors Inc. owned about 0.33% of New Mountain Finance worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Lenox Wealth Advisors LLC bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at $26,000. Arlington Partners LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $36,000. Manchester Financial Inc. bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $36,000. Marshall Wace North America L.P. bought a new stake in shares of New Mountain Finance during the 1st quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $125,000. 34.88% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on NMFC shares. ValuEngine raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th.
In related news, CAO Adam Weinstein purchased 9,350 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $13.34 per share, for a total transaction of $124,729.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Hamwee purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was bought at an average price of $13.25 per share, for a total transaction of $265,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 444,298 shares of company stock valued at $6,355,311 in the last ninety days. 10.27% of the stock is currently owned by insiders.
Shares of New Mountain Finance stock opened at $13.41 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of 9.72 and a beta of 0.53. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $13.52 and a 200 day moving average of $13.76. New Mountain Finance Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $14.38.
New Mountain Finance (NYSE:NMFC) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $66.47 million during the quarter, compared to the consensus estimate of $64.98 million. New Mountain Finance had a net margin of 36.54% and a return on equity of 10.47%. Analysts forecast that New Mountain Finance Corp. will post 1.39 EPS for the current year.
New Mountain Finance Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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