Rockingstone Advisors LLC Sells 10,115 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Rockingstone Advisors LLC cut its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,508 shares of the company’s stock after selling 10,115 shares during the period. Rockingstone Advisors LLC owned approximately 0.15% of New Mountain Finance worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NMFC. Confluence Investment Management LLC acquired a new stake in shares of New Mountain Finance in the 1st quarter valued at about $5,249,000. Van ECK Associates Corp boosted its stake in New Mountain Finance by 21.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock valued at $25,467,000 after purchasing an additional 369,695 shares during the last quarter. Tranquility Partners LLC lifted its position in shares of New Mountain Finance by 182.4% during the 1st quarter. Tranquility Partners LLC now owns 283,320 shares of the company’s stock worth $3,590,000 after buying an additional 182,990 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of New Mountain Finance by 78.5% during the 2nd quarter. Acadian Asset Management LLC now owns 314,058 shares of the company’s stock worth $3,839,000 after buying an additional 138,157 shares in the last quarter. Finally, First National Trust Co bought a new position in shares of New Mountain Finance during the 2nd quarter worth approximately $974,000. 32.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their price target on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd.

New Mountain Finance Trading Down 0.3 %

Shares of NMFC stock opened at $11.72 on Wednesday. The company’s fifty day simple moving average is $12.10 and its two-hundred day simple moving average is $12.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75. New Mountain Finance Co. has a 1 year low of $11.60 and a 1 year high of $13.23. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.56 and a beta of 1.14.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $90.25 million. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, analysts anticipate that New Mountain Finance Co. will post 1.41 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.32 per share. The ex-dividend date was Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.92%. New Mountain Finance’s dividend payout ratio (DPR) is currently 115.32%.

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.