Oppenheimer & Co. Inc. Has $329,000 Position in New Mountain Finance Co. (NASDAQ:NMFC)

Oppenheimer & Co. Inc. lessened its position in New Mountain Finance Co. (NASDAQ:NMFC) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,466 shares of the company’s stock after selling 4,566 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in New Mountain Finance were worth $329,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in New Mountain Finance by 9.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,158 shares of the company’s stock valued at $4,075,000 after acquiring an additional 28,957 shares during the last quarter. First National Trust Co raised its holdings in shares of New Mountain Finance by 101.1% in the 3rd quarter. First National Trust Co now owns 160,005 shares of the company’s stock valued at $1,917,000 after purchasing an additional 80,451 shares during the period. Lindbrook Capital LLC lifted its stake in New Mountain Finance by 0.7% in the 3rd quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock valued at $3,898,000 after purchasing an additional 2,389 shares during the last quarter. Confluence Investment Management LLC grew its holdings in New Mountain Finance by 1.1% during the third quarter. Confluence Investment Management LLC now owns 428,334 shares of the company’s stock worth $5,131,000 after purchasing an additional 4,756 shares during the period. Finally, Van ECK Associates Corp increased its position in New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after buying an additional 168,719 shares during the last quarter. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $11.53 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 10.98 and a beta of 1.15. 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 fifty-two week low of $10.61 and a fifty-two week high of $13.23. The stock has a fifty day moving average price of $11.62 and a 200-day moving average price of $12.10.

New Mountain Finance (NASDAQ:NMFC) last posted 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). The business had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. As a group, equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.33 dividend. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.45%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is 121.91%.

Insiders Place Their Bets

In other New Mountain Finance news, Director Steven B. Klinsky purchased 150,609 shares of New Mountain Finance stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the transaction, the director now owns 3,632,326 shares in the company, valued at $39,483,383.62. This trade represents a 4.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 bought at an average cost of $10.92 per share, for a total transaction of $453,726.00. Following the transaction, the chief executive officer now owns 351,783 shares of the company’s stock, valued at $3,841,470.36. The trade was a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 10.22% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their price target on shares of 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.

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.