Commonwealth Equity Services LLC Sells 7,860 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Commonwealth Equity Services LLC lessened its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,956 shares of the company’s stock after selling 7,860 shares during the quarter. Commonwealth Equity Services LLC owned about 0.11% of New Mountain Finance worth $1,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NMFC. Raymond James Financial Services Advisors Inc. lifted its position in New Mountain Finance by 1.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 77,885 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,357 shares in the last quarter. Private Advisor Group LLC lifted its position in New Mountain Finance by 45.8% in the 1st quarter. Private Advisor Group LLC now owns 27,086 shares of the company’s stock valued at $375,000 after acquiring an additional 8,511 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in New Mountain Finance by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,943 shares of the company’s stock valued at $456,000 after acquiring an additional 1,706 shares in the last quarter. Cetera Investment Advisers lifted its position in New Mountain Finance by 17.9% in the 1st quarter. Cetera Investment Advisers now owns 76,538 shares of the company’s stock valued at $1,060,000 after acquiring an additional 11,622 shares in the last quarter. Finally, Muzinich & Co. Inc. lifted its position in New Mountain Finance by 7.2% in the 1st quarter. Muzinich & Co. Inc. now owns 496,468 shares of the company’s stock valued at $6,881,000 after acquiring an additional 33,553 shares in the last quarter. Institutional investors own 30.98% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In other news, CEO John Kline purchased 8,200 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average cost of $12.05 per share, with a total value of $98,810.00. Following the acquisition, the chief executive officer now directly owns 229,572 shares in the company, valued at $2,766,342.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO John Kline acquired 8,200 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was bought at an average cost of $12.05 per share, with a total value of $98,810.00. Following the acquisition, the chief executive officer now owns 229,572 shares of the company’s stock, valued at approximately $2,766,342.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Ogens acquired 5,400 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were bought at an average cost of $11.65 per share, with a total value of $62,910.00. Following the completion of the acquisition, the director now directly owns 135,266 shares in the company, valued at approximately $1,575,848.90. The disclosure for this purchase can be found here. Insiders bought a total of 339,575 shares of company stock valued at $3,998,333 in the last three months. Company insiders own 10.22% of the company’s stock.

New Mountain Finance Trading Up 0.7 %

Shares of NMFC stock opened at $12.23 on Friday. The company has a 50 day moving average of $11.96 and a 200-day moving average of $12.30. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.49. New Mountain Finance Co. has a 12-month low of $11.09 and a 12-month high of $13.59. The firm has a market cap of $1.23 billion, a P/E ratio of 15.68 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. New Mountain Finance had a net margin of 26.18% and a return on equity of 10.36%. The business had revenue of $73.90 million during the quarter, compared to analyst estimates of $83.42 million. During the same period in the previous year, the business earned $0.31 EPS. Sell-side analysts anticipate that New Mountain Finance Co. will post 1.53 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a Variable dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.35 dividend. This represents a yield of 10.8%. The ex-dividend date is Thursday, June 15th. New Mountain Finance’s payout ratio is 164.10%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NMFC shares. B. Riley raised their price target on shares of New Mountain Finance from $12.50 to $13.00 in a research report on Wednesday, March 1st. StockNews.com began coverage on shares of New Mountain Finance in a research note on Thursday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered shares of New Mountain Finance from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 18th.

About New Mountain Finance

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New Mountain Finance Corp. is a is an externally managed, closed-end, non-diversified management investment company, which engages in investments in the middle market. Its objective investment is to generate current income and capital appreciation through investments in debt securities and equity interests.