LSV Asset Management Sells 59,072 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

LSV Asset Management lowered its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,417,603 shares of the company’s stock after selling 59,072 shares during the quarter. LSV Asset Management’s holdings in New Mountain Finance were worth $27,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NMFC. Van ECK Associates Corp grew its stake in shares of New Mountain Finance by 4.1% in the 4th quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company’s stock worth $26,378,000 after acquiring an additional 93,329 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in New Mountain Finance by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company’s stock worth $15,081,000 after purchasing an additional 15,988 shares during the last quarter. Invesco Ltd. grew its position in New Mountain Finance by 1,929.2% in the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company’s stock worth $11,101,000 after purchasing an additional 937,331 shares in the last quarter. Confluence Investment Management LLC increased its stake in New Mountain Finance by 0.3% in the 4th quarter. Confluence Investment Management LLC now owns 429,806 shares of the company’s stock valued at $4,840,000 after buying an additional 1,472 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of New Mountain Finance by 62.0% during the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company’s stock worth $4,085,000 after buying an additional 138,860 shares in the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Tuesday.

New Mountain Finance Trading Down 0.8 %

NASDAQ NMFC opened at $9.24 on Friday. The business’s fifty day moving average is $11.11 and its 200-day moving average is $11.36. 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 capitalization of $996.54 million, a price-to-earnings ratio of 8.80 and a beta of 0.84. New Mountain Finance Co. has a one year low of $8.84 and a one year high of $12.81.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. Equities research analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.32 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 13.85%. New Mountain Finance’s payout ratio is 123.08%.

Insider Buying and Selling at New Mountain Finance

In other news, Director David Ogens acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now owns 179,020 shares of the company’s stock, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.34% of the stock is owned by corporate insiders.

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.