New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Creative Planning

Creative Planning lessened its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 49.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,305 shares of the company’s stock after selling 13,150 shares during the quarter. Creative Planning’s holdings in New Mountain Finance were worth $159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NMFC. Hillsdale Investment Management Inc. acquired a new stake in New Mountain Finance during the 1st quarter worth $40,000. Quarry LP raised 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 acquiring an additional 1,342 shares during the period. EntryPoint Capital LLC purchased a new position in shares of New Mountain Finance during the 1st quarter worth $52,000. Clearstead Trust LLC purchased a new position in shares of New Mountain Finance during the 2nd quarter worth $98,000. Finally, Lazard Asset Management LLC purchased a new position in shares of New Mountain Finance during the 1st quarter worth $126,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In other news, CEO John Kline bought 41,550 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, with a total value of $453,726.00. Following the transaction, the chief executive officer now directly owns 351,783 shares in the company, valued at $3,841,470.36. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO John Kline acquired 41,550 shares of the stock in a transaction dated Wednesday, November 6th. The stock was acquired at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the transaction, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven B. Klinsky acquired 150,609 shares of the stock in a transaction dated Wednesday, November 6th. The shares were bought at an average cost of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. 10.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price target 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 Up 0.4 %

NASDAQ NMFC opened at $11.37 on Tuesday. New Mountain Finance Co. has a 52 week low of $10.61 and a 52 week high of $13.23. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $12.16. The firm has a market cap of $1.23 billion, a PE ratio of 10.83 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $95.33 million during 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 firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Tuesday, December 17th will be given a $0.33 dividend. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.61%. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s payout ratio is currently 121.91%.

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.