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

Cerity Partners LLC trimmed its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in New Mountain Finance by 240.4% in the fourth quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock valued at $84,000 after acquiring an additional 5,288 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of New Mountain Finance during the fourth quarter worth $114,000. XTX Topco Ltd bought a new stake in shares of New Mountain Finance during the fourth quarter worth $148,000. Vise Technologies Inc. grew its stake in shares of New Mountain Finance by 7.2% during the fourth quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock worth $186,000 after buying an additional 1,110 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of New Mountain Finance during the fourth quarter worth $200,000. 32.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NMFC. Wells Fargo & Company decreased their target price 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. Keefe, Bruyette & Woods decreased their target price 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. Finally, 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 target price on the stock.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $10.78 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 10.78 and a beta of 0.80. The firm's fifty day moving average is $10.58 and its 200-day moving average is $10.83. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.22 and a current ratio of 2.22. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.55.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $85.66 million for the quarter, compared to analyst estimates 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 business earned $0.36 earnings per share. Sell-side analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.87%. New Mountain Finance's dividend payout ratio (DPR) is presently 128.00%.

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.

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