Corient Private Wealth LLC Acquires New Shares in New Mountain Finance Corporation $NMFC

Corient Private Wealth LLC bought a new position in shares of New Mountain Finance Corporation (NASDAQ:NMFC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 808,882 shares of the company’s stock, valued at approximately $7,450,000. Corient Private Wealth LLC owned approximately 0.78% of New Mountain Finance as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. US Bancorp DE purchased a new position in shares of New Mountain Finance in the third quarter valued at $48,000. Advisory Services Network LLC purchased a new stake in shares of New Mountain Finance in the 3rd quarter worth about $65,000. Sound Income Strategies LLC boosted its position in shares of New Mountain Finance by 699.5% in the 4th quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock worth $70,000 after buying an additional 6,722 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in New Mountain Finance in the 4th quarter valued at about $94,000. Finally, United Capital Financial Advisors LLC acquired a new stake in New Mountain Finance in the 3rd quarter valued at about $97,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NMFC. B. Riley Financial cut their target price on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Weiss Ratings cut shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. Finally, Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $9.25.

New Mountain Finance Stock Performance

Shares of NMFC opened at $6.95 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market capitalization of $656.43 million, a price-to-earnings ratio of -11.98 and a beta of 0.54. The company’s 50 day simple moving average is $7.99 and its 200 day simple moving average is $8.35. New Mountain Finance Corporation has a 1 year low of $6.89 and a 1 year high of $10.90.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Monday, May 4th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $41.27 million during the quarter, compared to analysts’ expectations of $67.76 million. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. New Mountain Finance’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. On average, sell-side analysts predict that New Mountain Finance Corporation will post 1.11 EPS for the current year.

New Mountain Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.4%. New Mountain Finance’s payout ratio is currently -172.41%.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.