New Mountain Finance Co. (NASDAQ:NMFC) Shares Acquired by First National Trust Co

First National Trust Co raised its position in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 101.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,005 shares of the company’s stock after purchasing an additional 80,451 shares during the quarter. First National Trust Co owned about 0.15% of New Mountain Finance worth $1,917,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Oak Family Advisors LLC grew its holdings in New Mountain Finance by 0.7% during the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after acquiring an additional 1,020 shares during the period. Quarry LP grew its stake in shares of New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after purchasing an additional 1,342 shares during the last quarter. ProShare Advisors LLC raised its holdings 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 worth $165,000 after purchasing an additional 1,800 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in New Mountain Finance by 0.7% during the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock worth $3,898,000 after buying an additional 2,389 shares in the last quarter. Finally, Stephens Inc. AR grew its position in New Mountain Finance by 10.9% in the third quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock worth $305,000 after buying an additional 2,500 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

New Mountain Finance Stock Performance

New Mountain Finance stock opened at $11.39 on Wednesday. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.23. The firm’s 50 day simple moving average is $11.73 and its 200-day simple moving average is $12.16. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.23 billion, a P/E ratio of 10.85 and a beta of 1.15.

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

New Mountain Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.59%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is 121.91%.

Insider Buying and Selling

In related news, Director Steven B. Klinsky bought 150,609 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the purchase, the director now directly owns 3,632,326 shares of the company’s stock, valued at approximately $39,483,383.62. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO John Kline purchased 41,550 shares of New Mountain Finance stock in a transaction dated Wednesday, November 6th. The stock was acquired at an average cost of $10.92 per share, for a total transaction of $453,726.00. Following the acquisition, the chief executive officer now directly owns 351,783 shares in the company, valued at $3,841,470.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven B. Klinsky acquired 150,609 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $1,637,119.83. Following the acquisition, the director now directly owns 3,632,326 shares of the company’s stock, valued at $39,483,383.62. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 10.34% of the stock is currently owned by corporate insiders.

New Mountain Finance Company 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.