OxFORD Asset Management LLP Invests $161,000 in New Mountain Finance Corporation (NMFC)
OxFORD Asset Management LLP purchased a new position in New Mountain Finance Corporation (NYSE:NMFC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,450 shares of the investment management company’s stock, valued at approximately $161,000.
Several other large investors also recently modified their holdings of NMFC. Airain ltd purchased a new position in shares of New Mountain Finance in the 2nd quarter worth about $149,000. Cetera Investment Advisers purchased a new stake in New Mountain Finance during the second quarter valued at about $153,000. Financial Counselors Inc. purchased a new stake in New Mountain Finance during the second quarter valued at about $155,000. Alliancebernstein L.P. purchased a new stake in New Mountain Finance during the second quarter valued at about $160,000. Finally, Stifel Financial Corp lifted its holdings in New Mountain Finance by 22.3% during the second quarter. Stifel Financial Corp now owns 12,868 shares of the investment management company’s stock valued at $186,000 after purchasing an additional 2,343 shares during the last quarter. 39.29% of the stock is currently owned by institutional investors.
In other news, insider James Stone purchased 12,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $14.19 per share, with a total value of $170,280.00. Following the completion of the acquisition, the insider now owns 87,438 shares in the company, valued at approximately $1,240,745.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kurt Wolfgruber purchased 3,000 shares of the stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of $13.93 per share, for a total transaction of $41,790.00. Following the completion of the acquisition, the director now owns 42,905 shares of the company’s stock, valued at approximately $597,666.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 26,100 shares of company stock worth $369,068. Insiders own 9.73% of the company’s stock.
Several research firms have commented on NMFC. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the company a “hold” rating in a report on Thursday, October 5th. ValuEngine raised shares of New Mountain Finance from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.
Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at $13.55 on Monday. The company has a market cap of $1,027.16, a PE ratio of 8.97 and a beta of 0.59. New Mountain Finance Corporation has a fifty-two week low of $13.55 and a fifty-two week high of $15.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 10.04%. The ex-dividend date of this dividend was Thursday, December 14th. New Mountain Finance’s dividend payout ratio (DPR) is presently 90.07%.
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New Mountain Finance Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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