Denali Advisors LLC trimmed its position in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,071 shares of the company's stock after selling 26,693 shares during the period. Denali Advisors LLC owned approximately 0.10% of New Mountain Finance worth $1,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in New Mountain Finance in the 3rd quarter valued at $26,000. Quantbot Technologies LP acquired a new stake in New Mountain Finance during the third quarter worth about $129,000. Centiva Capital LP bought a new position in New Mountain Finance during the third quarter valued at about $130,000. New World Advisors LLC acquired a new position in New Mountain Finance in the 4th quarter valued at approximately $147,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of New Mountain Finance during the 3rd quarter worth approximately $168,000. 32.08% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Steven B. Klinsky acquired 16,624 shares of the stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $11.74 per share, for a total transaction of $195,165.76. Following the transaction, the director now owns 4,133,737 shares of the company's stock, valued at $48,530,072.38. The trade was a 0.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have acquired 95,104 shares of company stock valued at $1,083,334. 10.22% of the stock is currently owned by corporate insiders.
New Mountain Finance Price Performance
Shares of NASDAQ:NMFC traded up $0.15 during midday trading on Friday, reaching $11.65. 430,062 shares of the company's stock were exchanged, compared to its average volume of 358,573. The firm has a market capitalization of $1.26 billion, a PE ratio of 11.10 and a beta of 1.15. The company's 50 day simple moving average is $11.48 and its two-hundred day simple moving average is $11.68. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.01. 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 (NASDAQ:NMFC - Get Free Report) last released its quarterly 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 firm had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. Equities research analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 10.99%. New Mountain Finance's payout ratio is 123.08%.
New Mountain Finance Company Profile
(
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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