New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 261,563 shares of the company’s stock after selling 8,693 shares during the period. Advisors Asset Management Inc.’s holdings in New Mountain Finance were worth $3,134,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Quarry LP increased its holdings in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after buying an additional 1,342 shares during the last quarter. EntryPoint Capital LLC purchased a new position in New Mountain Finance in the first quarter worth approximately $52,000. Clearstead Trust LLC acquired a new stake in New Mountain Finance during the second quarter worth $98,000. Lazard Asset Management LLC purchased a new stake in New Mountain Finance in the first quarter valued at $126,000. Finally, ProShare Advisors LLC lifted its stake in shares of New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after purchasing an additional 1,800 shares during the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price objective on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky acquired 34,867 shares of the stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average price of $11.51 per share, with a total value of $401,319.17. Following the completion of the purchase, the director now owns 4,056,324 shares in the company, valued at $46,688,289.24. This trade represents a 0.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Kline bought 41,550 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average cost of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the purchase, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. This trade represents a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 227,026 shares of company stock valued at $2,492,165 in the last three months. 10.22% of the stock is owned by corporate insiders.

New Mountain Finance Price Performance

New Mountain Finance stock opened at $11.76 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.20 and a beta of 1.15. The company’s 50 day simple moving average is $11.61 and its 200-day simple moving average is $12.09. New Mountain Finance Co. has a 1 year low of $10.61 and a 1 year high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 11.22%. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is 121.91%.

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.