Advisors Asset Management Inc. lessened its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,084 shares of the company's stock after selling 32,479 shares during the period. Advisors Asset Management Inc. owned 0.21% of New Mountain Finance worth $2,579,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Inspire Investing LLC increased its position in New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock worth $399,000 after buying an additional 1,188 shares during the period. Confluence Investment Management LLC increased its position in New Mountain Finance by 0.3% during the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company's stock worth $4,840,000 after acquiring an additional 1,472 shares during the period. BNP Paribas Financial Markets acquired a new position in New Mountain Finance during the 3rd quarter valued at $26,000. Stifel Financial Corp boosted its holdings in New Mountain Finance by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 47,138 shares of the company's stock valued at $565,000 after purchasing an additional 2,389 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock valued at $351,000 after purchasing an additional 3,708 shares during the period. Institutional investors own 32.08% of the company's stock.
New Mountain Finance Stock Performance
Shares of NASDAQ:NMFC traded up $0.03 on Wednesday, hitting $11.12. 396,111 shares of the company were exchanged, compared to its average volume of 429,497. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company's 50 day moving average price is $11.49 and its two-hundred day moving average price is $11.54. New Mountain Finance Co. has a one year low of $10.62 and a one year high of $12.81. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.59 and a beta of 1.16.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. Research analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.51%. The ex-dividend date of this dividend is Monday, March 17th. New Mountain Finance's dividend payout ratio is 123.08%.
Insider Transactions at New Mountain Finance
In related news, Director David Ogens acquired 5,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now owns 179,020 shares of the company's stock, valued at $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.22% of the stock is owned by insiders.
About New Mountain Finance
(
Free Report)
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.
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