Schonfeld Strategic Advisors LLC Trims Position in New Mountain Finance Co. (NASDAQ:NMFC)

Schonfeld Strategic Advisors LLC decreased its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 88.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,325 shares of the company's stock after selling 192,365 shares during the period. Schonfeld Strategic Advisors LLC's holdings in New Mountain Finance were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Inspire Investing LLC boosted its stake in shares of New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock valued at $399,000 after purchasing an additional 1,188 shares in the last quarter. Lido Advisors LLC raised its holdings in New Mountain Finance by 2.7% in the 4th quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock worth $513,000 after purchasing an additional 1,199 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock worth $351,000 after purchasing an additional 3,708 shares in the last quarter. First National Trust Co raised its holdings in New Mountain Finance by 2.9% in the 4th quarter. First National Trust Co now owns 164,579 shares of the company's stock worth $1,853,000 after purchasing an additional 4,574 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings in New Mountain Finance by 33.6% in the 4th quarter. Essex Financial Services Inc. now owns 19,017 shares of the company's stock worth $214,000 after purchasing an additional 4,783 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company's stock.

Analysts Set New Price Targets

NMFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of 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. B. Riley initiated 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 for the company. Finally, Wells Fargo & Company reduced their price objective on shares of 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.

Insider Transactions at New Mountain Finance

In other news, Director David Ogens purchased 5,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 179,020 shares in the company, valued at $2,047,988.80. This represents a 2.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.71% of the company's stock.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock traded up $0.07 on Friday, hitting $10.75. 245,622 shares of the company traded hands, compared to its average volume of 473,270. The stock has a market capitalization of $1.16 billion, a P/E ratio of 10.24 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current 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 has a 50-day simple moving average of $10.30 and a 200 day simple moving average of $11.07.

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

New Mountain Finance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.91%. The ex-dividend date is Monday, June 16th. New Mountain Finance's dividend payout ratio is currently 128.00%.

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.