Quantbot Technologies LP Purchases Shares of 10,783 New Mountain Finance Co. (NASDAQ:NMFC)

Quantbot Technologies LP acquired a new position in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,783 shares of the company’s stock, valued at approximately $129,000.

Several other hedge funds have also modified their holdings of the stock. Cerity Partners LLC increased its holdings in New Mountain Finance by 2.7% during the 3rd quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock worth $45,811,000 after purchasing an additional 100,315 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of New Mountain Finance by 16.5% during 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 period. Van ECK Associates Corp raised its holdings in New Mountain Finance by 8.1% in the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock valued at $25,980,000 after acquiring an additional 168,719 shares in the last quarter. Condor Capital Management lifted its stake in New Mountain Finance by 28.2% in the second quarter. Condor Capital Management now owns 348,406 shares of the company’s stock worth $4,264,000 after acquiring an additional 76,739 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in New Mountain Finance by 54.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company’s stock worth $2,318,000 after acquiring an additional 67,990 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Trading Down 0.9 %

NMFC opened at $11.75 on Friday. The business’s 50-day simple moving average is $11.58 and its 200-day simple moving average is $12.05. The company has a market cap of $1.27 billion, a P/E ratio of 11.19 and a beta of 1.15. New Mountain Finance Co. has a one year low of $10.61 and a one year high of $13.23. 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 quarterly earnings data on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 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 $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same period in the previous year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The company 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 dividend of $0.33 per share. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 17th. This represents a $1.32 annualized dividend and a dividend yield of 11.23%. New Mountain Finance’s dividend payout ratio (DPR) is presently 121.91%.

Insider Transactions at New Mountain Finance

In related news, CEO John Kline acquired 41,550 shares of the firm’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 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven B. Klinsky bought 6,200 shares of the stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $11.75 per share, for a total transaction of $72,850.00. Following the completion of the purchase, the director now directly owns 4,122,655 shares in the company, valued at approximately $48,441,196.25. The trade was a 0.15 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 235,626 shares of company stock worth $2,593,191. Corporate insiders own 10.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price objective 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.