New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its stake in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,417,603 shares of the company's stock after selling 59,072 shares during the quarter. LSV Asset Management owned about 2.24% of New Mountain Finance worth $27,222,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of New Mountain Finance in the 3rd quarter worth $26,000. Centiva Capital LP bought a new stake in shares of New Mountain Finance during the third quarter valued at about $130,000. Stifel Financial Corp grew its position in shares of New Mountain Finance by 5.3% during 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 in the last quarter. Jane Street Group LLC purchased a new stake in shares of New Mountain Finance in the 3rd quarter valued at about $375,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in New Mountain Finance during the third quarter valued at approximately $168,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Ogens bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the acquisition, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.22% of the stock is owned by corporate insiders.

New Mountain Finance Stock Performance

NASDAQ NMFC traded up $0.19 during trading hours on Thursday, hitting $9.68. The company's stock had a trading volume of 156,901 shares, compared to its average volume of 462,791. The company's 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $11.31. 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 company has a market cap of $1.04 billion, a P/E ratio of 9.21 and a beta of 0.84. New Mountain Finance Co. has a 12 month low of $8.84 and a 12 month high of $12.81.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates 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 expect 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 13.23%. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

About New Mountain Finance

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.