Oppenheimer & Co. Inc. Acquires 7,531 Shares of New Mountain Finance Corp. (NMFC)

Oppenheimer & Co. Inc. lifted its holdings in shares of New Mountain Finance Corp. (NYSE:NMFC) by 16.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 53,130 shares of the investment management company’s stock after buying an additional 7,531 shares during the period. Oppenheimer & Co. Inc.’s holdings in New Mountain Finance were worth $718,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Castle Rock Wealth Management LLC acquired a new position in New Mountain Finance in the 2nd quarter worth $139,000. Comerica Bank acquired a new position in New Mountain Finance in the 2nd quarter worth $144,000. Tocqueville Asset Management L.P. acquired a new position in New Mountain Finance in the 2nd quarter worth $162,000. Stifel Financial Corp lifted its holdings in New Mountain Finance by 61.6% in the 1st quarter. Stifel Financial Corp now owns 18,824 shares of the investment management company’s stock worth $249,000 after buying an additional 7,174 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in New Mountain Finance in the 2nd quarter worth $270,000. Institutional investors and hedge funds own 37.14% of the company’s stock.

A number of brokerages have commented on NMFC. Zacks Investment Research upgraded shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, August 14th. TheStreet upgraded shares of New Mountain Finance from a “c+” rating to a “b” rating in a report on Friday, August 10th. ValuEngine upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Wells Fargo & Co cut their price objective on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.00.

Shares of NMFC stock opened at $13.57 on Wednesday. New Mountain Finance Corp. has a 12 month low of $12.05 and a 12 month high of $14.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52 and a beta of 0.54.

New Mountain Finance (NYSE:NMFC) last issued its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $54.60 million during the quarter, compared to analyst estimates of $53.10 million. New Mountain Finance had a return on equity of 10.11% and a net margin of 46.52%. Sell-side analysts forecast that New Mountain Finance Corp. will post 1.37 EPS for the current fiscal year.

In related news, CEO Robert Hamwee bought 15,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $205,500.00. Following the purchase, the chief executive officer now owns 326,733 shares in the company, valued at approximately $4,476,242.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Stone bought 4,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average price of $13.73 per share, for a total transaction of $54,920.00. Following the purchase, the insider now owns 93,351 shares in the company, valued at approximately $1,281,709.23. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 48,250 shares of company stock worth $662,833. Company insiders own 10.27% of the company’s stock.

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New Mountain Finance Company 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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Institutional Ownership by Quarter for New Mountain Finance (NYSE:NMFC)

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