Janney Montgomery Scott LLC Sells 1,588 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Janney Montgomery Scott LLC lowered its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,940 shares of the company’s stock after selling 1,588 shares during the period. Janney Montgomery Scott LLC owned 0.13% of New Mountain Finance worth $1,665,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NMFC. Sumitomo Mitsui Trust Holdings Inc. increased its position in New Mountain Finance by 16.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock worth $3,809,000 after buying an additional 44,114 shares during the last quarter. Condor Capital Management raised its stake in New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after acquiring an additional 76,739 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in New Mountain Finance by 54.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company’s stock valued at $2,318,000 after purchasing an additional 67,990 shares during the last quarter. Lazard Asset Management LLC bought a new position in New Mountain Finance during the first quarter worth about $126,000. Finally, First National Trust Co purchased a new position in shares of New Mountain Finance in the second quarter worth about $974,000. Institutional investors own 32.08% of the company’s stock.

Insider Activity at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky acquired 150,609 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, for a total transaction of $1,637,119.83. Following the completion of the acquisition, the director now owns 3,632,326 shares in the company, valued at $39,483,383.62. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John Kline acquired 41,550 shares of New Mountain Finance stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average price of $10.92 per share, for a total transaction 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven B. Klinsky bought 150,609 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the transaction, the director now directly owns 3,632,326 shares of the company’s stock, valued at $39,483,383.62. This trade 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 company insiders.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $11.61 on Thursday. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.23. The company has a fifty day moving average of $11.71 and a 200-day moving average of $12.15. The company has a market capitalization of $1.25 billion, a P/E ratio of 11.02 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 (NASDAQ:NMFC) last released its earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. New Mountain Finance’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. As a group, equities research analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.32 annualized dividend and a yield of 11.37%. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio (DPR) is 121.91%.

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 for the company in a research 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.