New Mountain Finance Co. (NASDAQ:NMFC) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 7.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,376,702 shares of the company's stock after acquiring an additional 237,594 shares during the period. HighTower Advisors LLC owned approximately 3.13% of New Mountain Finance worth $40,438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in New Mountain Finance by 38.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,590 shares of the company's stock worth $264,000 after acquiring an additional 5,950 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in New Mountain Finance by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company's stock valued at $3,809,000 after buying an additional 44,114 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in New Mountain Finance by 33.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 125,459 shares of the company's stock worth $1,536,000 after buying an additional 31,491 shares during the last quarter. Stableford Capital II LLC increased its stake in New Mountain Finance by 99.0% during the 2nd quarter. Stableford Capital II LLC now owns 79,339 shares of the company's stock worth $986,000 after buying an additional 39,466 shares in the last quarter. Finally, Oak Family Advisors LLC raised its holdings in shares of New Mountain Finance by 0.7% during the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company's stock valued at $1,841,000 after acquiring an additional 1,020 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Stock Down 0.9 %

Shares of NASDAQ NMFC traded down $0.11 during midday trading on Thursday, hitting $11.75. The company's stock had a trading volume of 537,721 shares, compared to its average volume of 420,938. New Mountain Finance Co. has a 1 year low of $10.61 and a 1 year high of $13.23. The business's fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $12.05. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.19 and a beta of 1.15. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $95.33 million during the quarter, compared to analysts' expectations of $94.10 million. During the same quarter last year, the business posted $0.40 earnings per share. The company's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 11.23%. The ex-dividend date is Tuesday, December 17th. This is a positive change from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's dividend payout ratio is 121.91%.

Insiders Place Their Bets

In related news, CEO John Kline purchased 41,550 shares of New Mountain Finance stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the transaction, the chief executive officer now directly owns 351,783 shares in the company, valued at approximately $3,841,470.36. The trade was a 13.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven B. Klinsky bought 6,200 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $11.75 per share, for a total transaction of $72,850.00. Following the transaction, the director now directly owns 4,122,655 shares of the company's stock, valued at approximately $48,441,196.25. This represents a 0.15 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 235,626 shares of company stock valued at $2,593,191 in the last ninety days. Insiders own 10.22% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th.

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.