New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,392 shares of the company’s stock after selling 1,536 shares during the period. Cetera Investment Advisers’ holdings in New Mountain Finance were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NMFC. Strategic Financial Concepts LLC acquired a new stake in New Mountain Finance in the fourth quarter valued at approximately $208,000. Essex Financial Services Inc. grew its holdings in New Mountain Finance by 33.6% in the fourth quarter. Essex Financial Services Inc. now owns 19,017 shares of the company’s stock valued at $214,000 after purchasing an additional 4,783 shares during the period. Van ECK Associates Corp grew its holdings in New Mountain Finance by 4.1% in the fourth quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company’s stock valued at $26,378,000 after purchasing an additional 93,329 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in New Mountain Finance in the fourth quarter valued at approximately $309,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in New Mountain Finance in the fourth quarter valued at approximately $1,170,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on NMFC shares. Wells Fargo & Company lowered their price target on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. B. Riley started coverage on New Mountain Finance in a research note on Tuesday, May 13th. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th.

New Mountain Finance Trading Down 0.6%

NASDAQ:NMFC opened at $10.70 on Tuesday. The stock has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $11.04. The stock has a market cap of $1.15 billion, a P/E ratio of 10.19 and a beta of 0.85. New Mountain Finance Co. has a 1 year low of $8.84 and a 1 year high of $12.65. 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) last posted its earnings results on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $85.66 million during the quarter, compared to the consensus estimate of $86.65 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. As a group, analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.96%. The ex-dividend date of this dividend is Monday, June 16th. New Mountain Finance’s dividend payout ratio is currently 128.00%.

New Mountain Finance Company 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.