Hartline Investment Corp Makes New $250,000 Investment in New Mountain Finance Co. (NASDAQ:NMFC)

Hartline Investment Corp bought a new position in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 19,704 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morton Brown Family Wealth LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $35,000. Beaumont Financial Advisors LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $130,000. Kestra Advisory Services LLC acquired a new stake in shares of New Mountain Finance in the 3rd quarter worth approximately $183,000. Virtu Financial LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $181,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of New Mountain Finance in the 1st quarter worth approximately $245,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Activity at New Mountain Finance

In related news, Director David Ogens bought 3,500 shares of New Mountain Finance stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $12.62 per share, with a total value of $44,170.00. Following the purchase, the director now owns 166,391 shares in the company, valued at $2,099,854.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.34% of the stock is owned by corporate insiders.

New Mountain Finance Price Performance

Shares of NMFC traded down $0.07 on Friday, reaching $12.32. The stock had a trading volume of 355,691 shares, compared to its average volume of 425,501. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.16 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average of $12.50 and a 200 day moving average of $12.64. New Mountain Finance Co. has a twelve month low of $12.12 and a twelve month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The firm had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that New Mountain Finance Co. will post 1.43 EPS for the current year.

New Mountain Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date of this dividend was Friday, June 14th. New Mountain Finance’s payout ratio is currently 122.52%.

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.