Acadian Asset Management LLC Sells 91,936 Shares of New Mountain Finance Corporation $NMFC

Acadian Asset Management LLC lessened its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 49.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,330 shares of the company’s stock after selling 91,936 shares during the quarter. Acadian Asset Management LLC owned approximately 0.09% of New Mountain Finance worth $1,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NMFC. Transcend Capital Advisors LLC bought a new stake in New Mountain Finance during the 1st quarter valued at $4,674,000. LSV Asset Management raised its stake in New Mountain Finance by 14.3% in the 1st quarter. LSV Asset Management now owns 2,764,111 shares of the company’s stock worth $30,488,000 after acquiring an additional 346,508 shares during the last quarter. Millennium Management LLC raised its stake in New Mountain Finance by 102.2% in the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company’s stock worth $5,850,000 after acquiring an additional 262,631 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in New Mountain Finance in the 4th quarter worth $2,359,000. Finally, Trexquant Investment LP raised its stake in New Mountain Finance by 75.3% in the 1st quarter. Trexquant Investment LP now owns 291,634 shares of the company’s stock worth $3,217,000 after acquiring an additional 125,230 shares during the last quarter. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NMFC. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Bank of America restated an “underperform” rating and issued a $10.00 target price (down previously from $11.75) on shares of New Mountain Finance in a research note on Monday. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and an average price target of $10.60.

Insider Transactions at New Mountain Finance

In other news, EVP Adam B. Weinstein acquired 49,750 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were bought at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the acquisition, the executive vice president owned 652,490 shares in the company, valued at approximately $6,544,474.70. This represents a 8.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.71% of the company’s stock.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock opened at $9.69 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.15. The business has a 50-day moving average price of $10.46 and a 200 day moving average price of $10.49. The firm has a market cap of $1.03 billion, a PE ratio of 12.75 and a beta of 0.80.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.The firm had revenue of $83.49 million during the quarter, compared to analyst estimates of $84.57 million. During the same quarter in the previous year, the business earned $0.36 EPS. Sell-side analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 13.2%. The ex-dividend date is Tuesday, September 16th. New Mountain Finance’s payout ratio is presently 168.42%.

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.