Naviter Wealth LLC Invests $2.13 Million in New Mountain Finance Co. (NASDAQ:NMFC)

Naviter Wealth LLC purchased a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 189,129 shares of the company's stock, valued at approximately $2,130,000. Naviter Wealth LLC owned approximately 0.18% of New Mountain Finance as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company's stock valued at $40,438,000 after acquiring an additional 237,594 shares during the period. Franklin Resources Inc. acquired a new stake in New Mountain Finance in the 3rd quarter valued at $2,608,000. Rockingstone Advisors LLC raised its position in New Mountain Finance by 79.1% in the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company's stock valued at $3,177,000 after purchasing an additional 124,599 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in New Mountain Finance in the fourth quarter valued at about $1,170,000. Finally, Cerity Partners LLC lifted its stake in shares of New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company's stock worth $45,811,000 after purchasing an additional 100,315 shares in the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Stock Up 0.1 %

Shares of NASDAQ NMFC traded up $0.01 on Wednesday, hitting $11.13. The company had a trading volume of 1,519,691 shares, compared to its average volume of 424,853. The firm has a market capitalization of $1.20 billion, a P/E ratio of 10.60 and a beta of 1.16. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $12.99. The business has a 50 day moving average of $11.49 and a two-hundred day moving average of $11.63.

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New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share 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 analysts' expectations 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, equities research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 11.50%. The ex-dividend date is Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is 123.08%.

Insiders Place Their Bets

In other New Mountain Finance news, Director Steven B. Klinsky acquired 72,280 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the acquisition, the director now directly owns 4,285,505 shares of the company's stock, valued at $48,340,496.40. This trade represents a 1.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Ogens bought 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares in the company, valued at $2,047,988.80. This represents a 2.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.22% of the stock is currently owned by company insiders.

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.