International Assets Investment Management LLC Sells 343,228 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

International Assets Investment Management LLC reduced its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 91.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 31,259 shares of the company's stock after selling 343,228 shares during the quarter. International Assets Investment Management LLC's holdings in New Mountain Finance were worth $354,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cerity Partners LLC raised its holdings in New Mountain Finance by 2.7% during the 3rd 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 during the last quarter. HighTower Advisors LLC increased its position in shares of New Mountain Finance by 7.6% during the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company's stock worth $40,438,000 after buying an additional 237,594 shares during the period. Van ECK Associates Corp raised its stake in New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company's stock worth $25,980,000 after buying an additional 168,719 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in New Mountain Finance by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company's stock valued at $15,081,000 after buying an additional 15,988 shares during the period. Finally, Millennium Management LLC boosted its position in New Mountain Finance by 5.4% during the second quarter. Millennium Management LLC now owns 456,811 shares of the company's stock valued at $5,591,000 after acquiring an additional 23,406 shares during the last quarter. Institutional investors own 32.08% of the company's stock.

New Mountain Finance Trading Down 1.0 %

Shares of NMFC stock traded down $0.11 during trading hours on Friday, hitting $10.89. 465,879 shares of the company were exchanged, compared to its average volume of 452,380. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.10. The company has a 50 day simple moving average of $11.43 and a two-hundred day simple moving average of $11.84. The firm has a market cap of $1.17 billion, a P/E ratio of 10.37 and a beta of 1.15.

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

New Mountain Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.32 annualized dividend and a yield of 12.12%. This is a positive change from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's dividend payout ratio is presently 121.90%.

Insider Buying and Selling at New Mountain Finance

In other news, CEO John Kline bought 41,550 shares of the stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the acquisition, the chief executive officer now directly owns 351,783 shares in the company, valued at approximately $3,841,470.36. This trade represents a 13.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven B. Klinsky purchased 2,400 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average price of $11.74 per share, for a total transaction of $28,176.00. Following the completion of the acquisition, the director now owns 4,118,522 shares of the company's stock, valued at $48,351,448.28. The trade was a 0.06 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 324,530 shares of company stock valued at $3,603,675. Company insiders own 10.22% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their price objective on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note 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.