HighTower Advisors LLC reduced its position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 21.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,651,080 shares of the company's stock after selling 725,622 shares during the period. HighTower Advisors LLC owned 2.46% of New Mountain Finance worth $29,851,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in New Mountain Finance in the 3rd quarter valued at about $26,000. Quantbot Technologies LP bought a new stake in shares of New Mountain Finance during the third quarter valued at about $129,000. Centiva Capital LP bought a new stake in shares of New Mountain Finance during the third quarter valued at about $130,000. MQS Management LLC bought a new stake in shares of New Mountain Finance during the fourth quarter valued at about $123,000. Finally, Larson Financial Group LLC increased its position in shares of New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock valued at $123,000 after buying an additional 10,727 shares during the period. 32.08% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $11.44 per share, with a total value of $57,200.00. Following the completion of the purchase, the director now owns 179,020 shares of the company's stock, valued at $2,047,988.80. The trade was a 2.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.22% of the stock is owned by insiders.
New Mountain Finance Price Performance
Shares of NMFC traded up $0.07 during midday trading on Wednesday, hitting $11.10. 405,139 shares of the company traded hands, compared to its average volume of 428,315. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a 50-day moving average of $11.48 and a 200-day moving average of $11.59. The firm has a market cap of $1.20 billion, a P/E ratio of 10.57 and a beta of 1.16. New Mountain Finance Co. has a one year low of $10.62 and a one year high of $12.81.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company 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%. As a group, sell-side analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.
New Mountain Finance Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.53%. The ex-dividend date of this dividend is Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is 123.08%.
New Mountain Finance Company Profile
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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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