Tranquility Partners LLC Boosts Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Tranquility Partners LLC increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 2.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 398,344 shares of the company’s stock after buying an additional 9,591 shares during the quarter. New Mountain Finance accounts for about 1.7% of Tranquility Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Tranquility Partners LLC’s holdings in New Mountain Finance were worth $4,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NMFC. Oak Family Advisors LLC increased its stake in shares of New Mountain Finance by 0.7% in the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after acquiring an additional 1,020 shares during the period. Quarry LP raised its stake in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after buying an additional 1,342 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after buying an additional 1,800 shares during the period. Lindbrook Capital LLC boosted its stake in shares of New Mountain Finance by 0.7% in the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock worth $3,898,000 after buying an additional 2,389 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in New Mountain Finance by 10.9% during the third quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock worth $305,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In other news, CEO John Kline bought 41,550 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were acquired 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 directly owns 351,783 shares in the company, valued at $3,841,470.36. The trade was a 13.39 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven B. Klinsky purchased 150,609 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.34% of the company’s stock.

New Mountain Finance Trading Down 0.3 %

NMFC stock opened at $11.50 on Tuesday. 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 52-week low of $10.61 and a 52-week high of $13.23. The company’s 50-day simple moving average is $11.66 and its 200-day simple moving average is $12.12. The firm has a market cap of $1.24 billion, a P/E ratio of 10.95 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, equities analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 17th. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 11.48%. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price target on 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 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.