Condor Capital Management Boosts Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Condor Capital Management grew its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 28.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 348,406 shares of the company’s stock after buying an additional 76,739 shares during the period. Condor Capital Management owned 0.32% of New Mountain Finance worth $4,264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in New Mountain Finance in the 1st quarter valued at approximately $40,000. EntryPoint Capital LLC purchased a new position in New Mountain Finance in the first quarter valued at approximately $52,000. Lazard Asset Management LLC acquired a new stake in New Mountain Finance in the 1st quarter valued at $126,000. ProShare Advisors LLC grew its stake in shares of New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after buying an additional 1,800 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $181,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price target on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $12.31 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 11.09 and a beta of 1.14. The stock’s 50 day moving average price is $12.25 and its 200 day moving average price is $12.44. New Mountain Finance Co. has a 12 month low of $11.60 and a 12 month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities research analysts anticipate that New Mountain Finance Co. will post 1.41 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 10.40%. The ex-dividend date is Monday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is 115.32%.

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.