New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC cut its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 88.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,325 shares of the company’s stock after selling 192,365 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in New Mountain Finance were worth $274,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rockingstone Advisors LLC increased its position in shares of New Mountain Finance by 79.1% during the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock valued at $3,177,000 after acquiring an additional 124,599 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at about $208,000. Raymond James Financial Inc. acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at about $944,000. Union Bancaire Privee UBP SA acquired a new stake in shares of New Mountain Finance during the fourth quarter valued at about $309,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of New Mountain Finance by 31.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 254,181 shares of the company’s stock valued at $2,862,000 after acquiring an additional 60,732 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Ogens acquired 5,000 shares of New Mountain Finance stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the transaction, the director now owns 179,020 shares of the company’s stock, valued at $2,047,988.80. This represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.71% of the stock is currently owned by company insiders.

New Mountain Finance Trading Up 2.6%

NASDAQ NMFC opened at $10.68 on Tuesday. New Mountain Finance Co. has a one year low of $8.84 and a one year high of $12.65. The firm has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $11.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 10.17 and a beta of 0.85.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $85.66 million during the quarter, compared to analysts’ expectations of $86.65 million. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 11.99%. The ex-dividend date is Monday, June 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 128.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th.

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.