Commonwealth Equity Services LLC cut its stake in New Mountain Finance Co. (NASDAQ:NMFC – Free Report) by 8.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 93,289 shares of the company’s stock after selling 8,887 shares during the period. Commonwealth Equity Services LLC’s holdings in New Mountain Finance were worth $1,050,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in New Mountain Finance in the 3rd quarter worth $26,000. MQS Management LLC bought a new position in New Mountain Finance during the 4th quarter valued at $123,000. Larson Financial Group LLC lifted its stake in New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock valued at $123,000 after purchasing an additional 10,727 shares during the last quarter. Quantbot Technologies LP acquired a new stake in New Mountain Finance during the 3rd quarter worth about $129,000. Finally, Centiva Capital LP purchased a new position in shares of New Mountain Finance during the third quarter valued at $130,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the acquisition, the director now directly owns 179,020 shares of the company’s stock, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.22% of the stock is owned by corporate insiders.
New Mountain Finance Trading Down 0.4 %
NASDAQ NMFC opened at $11.03 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.19 billion, a PE ratio of 10.50 and a beta of 1.16. New Mountain Finance Co. has a 1-year low of $10.62 and a 1-year high of $12.81. The firm’s fifty day simple moving average is $11.48 and its 200-day simple moving average is $11.51.
New Mountain Finance (NASDAQ:NMFC – Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $92.89 million for the quarter, compared to analyst estimates of $93.23 million. As a group, sell-side analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.60%. New Mountain Finance’s dividend payout ratio is currently 123.08%.
New Mountain Finance 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.
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