Two Sigma Advisers LP Cuts Position in New Mountain Finance Co. (NASDAQ:NMFC)

Two Sigma Advisers LP cut its position in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 959,271 shares of the company's stock after selling 66,929 shares during the quarter. Two Sigma Advisers LP owned about 0.89% of New Mountain Finance worth $10,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings 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 worth $84,000 after acquiring an additional 5,288 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in New Mountain Finance in the fourth quarter worth $114,000. MQS Management LLC bought a new stake in New Mountain Finance in the fourth quarter worth $123,000. Larson Financial Group LLC boosted its holdings in New Mountain Finance by 4,746.5% in the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock worth $123,000 after acquiring an additional 10,727 shares in the last quarter. Finally, New World Advisors LLC bought a new stake in New Mountain Finance in the fourth quarter worth $147,000. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC traded down $0.01 during trading on Wednesday, hitting $10.78. 31,915 shares of the company's stock were exchanged, compared to its average volume of 471,027. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a 52-week low of $8.84 and a 52-week high of $12.65. The business's 50-day simple moving average is $10.25 and its 200 day simple moving average is $11.06. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 10.26 and a beta of 0.85.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $85.66 million during the quarter, compared to analysts' expectations of $86.65 million. During the same quarter last year, the business posted $0.36 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. As a group, equities analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 11.88%. The ex-dividend date is Monday, June 16th. New Mountain Finance's dividend payout ratio is presently 128.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, B. Riley assumed coverage on New Mountain Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target for the company.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens acquired 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now directly owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This trade represents a 2.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.71% of the stock is currently owned by company insiders.

About New Mountain Finance

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.