New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 95.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,355 shares of the company's stock after selling 970,950 shares during the quarter. Bank of Montreal Can's holdings in New Mountain Finance were worth $533,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of New Mountain Finance by 139.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 137,773 shares of the company's stock worth $1,551,000 after purchasing an additional 80,309 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in New Mountain Finance in the 4th quarter valued at $305,000. ExodusPoint Capital Management LP grew its holdings in New Mountain Finance by 107.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 26,291 shares of the company's stock valued at $296,000 after buying an additional 13,642 shares during the period. Trexquant Investment LP boosted its holdings in shares of New Mountain Finance by 139.2% in the 4th quarter. Trexquant Investment LP now owns 166,404 shares of the company's stock valued at $1,874,000 after purchasing an additional 96,831 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of New Mountain Finance by 62.0% in the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company's stock worth $4,085,000 after buying an additional 138,860 shares during the period. Institutional investors and hedge funds own 32.08% of the company's stock.

New Mountain Finance Stock Up 0.1 %

NMFC stock traded up $0.01 during mid-day trading on Friday, hitting $10.13. 323,638 shares of the company were exchanged, compared to its average volume of 469,491. The company has a market capitalization of $1.09 billion, a PE ratio of 9.65 and a beta of 0.84. The firm has a fifty day simple moving average of $10.70 and a 200 day simple moving average of $11.21. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a twelve month low of $8.84 and a twelve month high of $12.81.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm had revenue of $92.89 million for the quarter, compared to analyst estimates of $93.23 million. On average, research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 12.64%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is 123.08%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.71% of the stock is owned by company insiders.

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.