Sumitomo Mitsui Asset Management Company LTD lessened its holdings in New Mountain Finance Corp. (NYSE:NMFC) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 244,431 shares of the investment management company’s stock after selling 17,748 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned 0.32% of New Mountain Finance worth $3,299,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Bard Associates Inc. boosted its position in shares of New Mountain Finance by 25.1% in the second quarter. Bard Associates Inc. now owns 20,055 shares of the investment management company’s stock valued at $273,000 after acquiring an additional 4,025 shares during the period. Cliffwater LLC lifted its position in New Mountain Finance by 1.5% during the second quarter. Cliffwater LLC now owns 305,398 shares of the investment management company’s stock worth $4,153,000 after purchasing an additional 4,626 shares during the period. Wedbush Securities Inc. lifted its position in New Mountain Finance by 41.8% during the second quarter. Wedbush Securities Inc. now owns 20,775 shares of the investment management company’s stock worth $283,000 after purchasing an additional 6,125 shares during the period. Mckinley Capital Management LLC Delaware lifted its position in New Mountain Finance by 2.7% during the second quarter. Mckinley Capital Management LLC Delaware now owns 257,061 shares of the investment management company’s stock worth $3,496,000 after purchasing an additional 6,680 shares during the period. Finally, Stifel Financial Corp lifted its position in New Mountain Finance by 61.6% during the first quarter. Stifel Financial Corp now owns 18,824 shares of the investment management company’s stock worth $249,000 after purchasing an additional 7,174 shares during the period. 36.97% of the stock is owned by institutional investors.
In related news, insider John Kline bought 17,250 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was purchased at an average price of $13.77 per share, with a total value of $237,532.50. Following the completion of the acquisition, the insider now owns 81,030 shares of the company’s stock, valued at $1,115,783.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Hamwee bought 15,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $13.70 per share, with a total value of $205,500.00. Following the acquisition, the chief executive officer now directly owns 326,733 shares of the company’s stock, valued at approximately $4,476,242.10. The disclosure for this purchase can be found here. Insiders bought 48,250 shares of company stock valued at $662,833 in the last three months. Company insiders own 10.27% of the company’s stock.
NMFC opened at $13.19 on Friday. New Mountain Finance Corp. has a twelve month low of $12.05 and a twelve month high of $14.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $1.01 billion, a P/E ratio of 9.73 and a beta of 0.55.
New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $54.60 million for the quarter, compared to the consensus estimate of $53.10 million. New Mountain Finance had a return on equity of 10.11% and a net margin of 46.52%. As a group, analysts anticipate that New Mountain Finance Corp. will post 1.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.34 dividend. The ex-dividend date was Thursday, September 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.31%. New Mountain Finance’s dividend payout ratio (DPR) is currently 105.43%.
Several research firms recently weighed in on NMFC. Zacks Investment Research raised shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, August 14th. TheStreet raised shares of New Mountain Finance from a “c+” rating to a “b” rating in a research report on Friday, August 10th. ValuEngine raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Wells Fargo & Co cut their price objective on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.00.
New Mountain Finance Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
Further Reading: What is a put option?
Receive News & Ratings for New Mountain Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance and related companies with MarketBeat.com's FREE daily email newsletter.