Commonwealth Equity Services LLC Decreases Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Commonwealth Equity Services LLC trimmed its position in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,289 shares of the company’s stock after selling 8,887 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.09% of New Mountain Finance worth $1,050,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of New Mountain Finance during the third quarter worth $129,000. BNP Paribas Financial Markets acquired a new position in New Mountain Finance during the third quarter worth about $26,000. Paloma Partners Management Co purchased a new stake in New Mountain Finance during the 3rd quarter valued at about $351,000. Centiva Capital LP purchased a new stake in New Mountain Finance during the 3rd quarter valued at about $130,000. Finally, HighTower Advisors LLC raised its holdings in New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after acquiring an additional 237,594 shares during the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Trading Down 0.4 %

Shares of New Mountain Finance stock opened at $11.03 on Tuesday. New Mountain Finance Co. has a 1-year low of $10.62 and a 1-year high of $12.81. 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 stock has a market cap of $1.19 billion, a P/E ratio of 10.50 and a beta of 1.16. The stock’s 50 day simple moving average is $11.48 and its 200-day simple moving average is $11.51.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $92.89 million during the quarter, compared to analyst estimates of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. Analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.60%. New Mountain Finance’s payout ratio is 123.08%.

Insider Activity

In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.22% of the company’s stock.

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.