Mckinley Capital Management LLC Delaware lifted its stake in New Mountain Finance Corp. (NYSE:NMFC) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,526 shares of the investment management company’s stock after purchasing an additional 9,912 shares during the quarter. Mckinley Capital Management LLC Delaware owned 0.29% of New Mountain Finance worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Counselors Inc. increased its holdings in New Mountain Finance by 6.7% in the 1st quarter. Financial Counselors Inc. now owns 12,871 shares of the investment management company’s stock worth $175,000 after buying an additional 806 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of New Mountain Finance by 9.4% during the 1st quarter. Essex Financial Services Inc. now owns 13,129 shares of the investment management company’s stock valued at $178,000 after purchasing an additional 1,129 shares during the period. Wambolt & Associates LLC grew its stake in shares of New Mountain Finance by 8.2% during the 2nd quarter. Wambolt & Associates LLC now owns 16,777 shares of the investment management company’s stock valued at $234,000 after purchasing an additional 1,267 shares during the period. Monument Capital Management grew its stake in shares of New Mountain Finance by 1.6% during the 2nd quarter. Monument Capital Management now owns 90,604 shares of the investment management company’s stock valued at $1,260,000 after purchasing an additional 1,407 shares during the period. Finally, Moloney Securities Asset Management LLC grew its stake in shares of New Mountain Finance by 18.4% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 12,445 shares of the investment management company’s stock valued at $174,000 after purchasing an additional 1,937 shares during the period. 33.95% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th.
Shares of New Mountain Finance stock traded down $0.14 during trading hours on Friday, reaching $13.45. 564,479 shares of the stock traded hands, compared to its average volume of 402,139. The company has a 50 day moving average price of $13.69 and a 200 day moving average price of $13.83. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.92 and a beta of 0.55. New Mountain Finance Corp. has a one year low of $12.06 and a one year high of $14.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.11%. New Mountain Finance’s dividend payout ratio is currently 98.55%.
In related news, CAO Adam Weinstein acquired 9,350 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $13.34 per share, for a total transaction of $124,729.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Shiraz Kajee acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $13.38 per share, with a total value of $33,450.00. Following the completion of the purchase, the chief financial officer now owns 7,500 shares in the company, valued at approximately $100,350. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 14,700 shares of company stock valued at $196,392. Corporate insiders own 10.27% of the company’s stock.
About New Mountain Finance
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.
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