PFG Investments LLC Decreases Stake in New Mountain Finance Co. (NASDAQ:NMFC)

PFG Investments LLC reduced its position in New Mountain Finance Co. (NASDAQ:NMFC) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,468 shares of the company’s stock after selling 4,026 shares during the period. PFG Investments LLC’s holdings in New Mountain Finance were worth $425,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of New Mountain Finance by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 1,710,907 shares of the company’s stock valued at $21,677,000 after buying an additional 148,470 shares in the last quarter. Hartline Investment Corp purchased a new stake in shares of New Mountain Finance during the first quarter worth $250,000. Csenge Advisory Group bought a new position in shares of New Mountain Finance in the first quarter worth $227,000. Tranquility Partners LLC grew its position in shares of New Mountain Finance by 182.4% in the first quarter. Tranquility Partners LLC now owns 283,320 shares of the company’s stock valued at $3,590,000 after purchasing an additional 182,990 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of New Mountain Finance by 16.0% during the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after purchasing an additional 1,800 shares during the period. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their target price on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $11.38 on Wednesday. The company has a 50 day moving average of $11.94 and a 200 day moving average of $12.25. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.23 billion, a P/E ratio of 10.35 and a beta of 1.14. New Mountain Finance Co. has a 12 month low of $11.34 and a 12 month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. The firm had revenue of $94.59 million during the quarter, compared to analyst estimates of $90.25 million. During the same period in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts forecast that New Mountain Finance Co. will post 1.41 EPS for the current fiscal year.

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.