Cerity Partners LLC Sells 235,010 Shares of New Mountain Finance Corporation (NASDAQ:NMFC)

Cerity Partners LLC trimmed its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,451,200 shares of the company's stock after selling 235,010 shares during the quarter. Cerity Partners LLC owned 3.20% of New Mountain Finance worth $38,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NMFC. Invesco Ltd. lifted its position in New Mountain Finance by 1,929.2% in the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock valued at $11,101,000 after acquiring an additional 937,331 shares in the last quarter. Transcend Capital Advisors LLC bought a new stake in New Mountain Finance in the 1st quarter valued at $4,674,000. Millennium Management LLC lifted its position in New Mountain Finance by 102.2% in the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company's stock valued at $5,850,000 after acquiring an additional 262,631 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in New Mountain Finance in the 4th quarter valued at $2,359,000. Finally, Franklin Resources Inc. increased its stake in New Mountain Finance by 62.0% in the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company's stock valued at $4,085,000 after buying an additional 138,860 shares during the last quarter. 32.08% of the stock is owned by institutional investors.

New Mountain Finance Stock Performance

Shares of New Mountain Finance stock traded down $0.04 during trading on Tuesday, hitting $10.68. 354,933 shares of the stock were exchanged, compared to its average volume of 483,290. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.68 and a beta of 0.80. The company has a fifty day moving average price of $10.60 and a 200-day moving average price of $10.82. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.55. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.32.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, hitting 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 net margin of 29.84% and a return on equity of 10.57%. New Mountain Finance's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities analysts predict that New Mountain Finance Corporation will post 1.39 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 11.99%. The ex-dividend date of this dividend was Monday, June 16th. New Mountain Finance's payout ratio is 128.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of 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. B. Riley began coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of 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.

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.