New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC decreased its position in New Mountain Finance Co. (NASDAQ:NMFC) by 91.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,259 shares of the company’s stock after selling 343,228 shares during the period. International Assets Investment Management LLC’s holdings in New Mountain Finance were worth $354,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in shares of New Mountain Finance in the third quarter valued at $26,000. Quarry LP raised its position in New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after acquiring an additional 1,342 shares in the last quarter. Clearstead Trust LLC acquired a new stake in New Mountain Finance in the 2nd quarter valued at about $98,000. Quantbot Technologies LP bought a new position in shares of New Mountain Finance during the 3rd quarter valued at about $129,000. Finally, Centiva Capital LP acquired a new position in shares of New Mountain Finance in the 3rd quarter worth approximately $130,000. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Stock Down 1.0 %

Shares of New Mountain Finance stock opened at $10.89 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.10. The firm has a market capitalization of $1.17 billion, a PE ratio of 10.37 and a beta of 1.15. The stock’s fifty day moving average is $11.43 and its 200-day moving average is $11.84.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 11.25% and a net margin of 30.28%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.12%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.90%.

Insider Activity at New Mountain Finance

In related news, Director Steven B. Klinsky bought 150,609 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was purchased 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 4.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Kline purchased 41,550 shares of the stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the acquisition, the chief executive officer now owns 351,783 shares of the company’s stock, valued at approximately $3,841,470.36. The trade was a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 324,530 shares of company stock valued at $3,603,675. Insiders own 10.22% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

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.