Legal & General Group Plc lessened its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 713,975 shares of the company's stock after selling 49,734 shares during the quarter. Legal & General Group Plc owned 0.66% of New Mountain Finance worth $8,036,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of New Mountain Finance during the 3rd quarter worth about $375,000. Rockingstone Advisors LLC increased its position in shares of New Mountain Finance by 79.1% during the 4th quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company's stock worth $3,177,000 after purchasing an additional 124,599 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter valued at approximately $208,000. Raymond James Financial Inc. bought a new position in shares of New Mountain Finance in the fourth quarter valued at $944,000. Finally, Union Bancaire Privee UBP SA bought a new stake in New Mountain Finance in the 4th quarter valued at $309,000. Institutional investors own 32.08% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods lowered 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 report on Tuesday, April 8th.
View Our Latest Analysis on New Mountain Finance
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 bought at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now directly owns 179,020 shares of the company's stock, valued at $2,047,988.80. The trade was a 2.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.71% of the company's stock.
New Mountain Finance Price Performance
New Mountain Finance stock traded up $0.30 during trading hours on Thursday, reaching $10.19. 144,779 shares of the stock were exchanged, compared to its average volume of 466,195. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market cap of $1.10 billion, a P/E ratio of 9.69 and a beta of 0.84. The stock has a 50 day moving average of $10.77 and a two-hundred day moving average of $11.24. 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 posted its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. Equities analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.
New Mountain Finance Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 12.57%. New Mountain Finance's dividend payout ratio is currently 123.08%.
About New Mountain Finance
(
Free Report)
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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