Bank of Montreal Can Has $533,000 Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Bank of Montreal Can decreased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 95.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,355 shares of the company’s stock after selling 970,950 shares during the period. Bank of Montreal Can’s holdings in New Mountain Finance were worth $533,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NMFC. Jane Street Group LLC bought a new stake in New Mountain Finance in the third quarter valued at $375,000. Strategic Financial Concepts LLC bought a new position in New Mountain Finance in the fourth quarter worth approximately $208,000. Rockingstone Advisors LLC grew its stake in New Mountain Finance by 79.1% in 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 period. Raymond James Financial Inc. bought a new stake in shares of New Mountain Finance during the fourth quarter valued at approximately $944,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of New Mountain Finance in the 4th quarter worth $309,000. Institutional investors own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, 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 on the stock in a report on Tuesday, April 8th.

Insiders Place Their Bets

In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the transaction, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 11.71% of the stock is currently owned by insiders.

New Mountain Finance Stock Performance

Shares of NMFC opened at $9.56 on Tuesday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 9.10 and a beta of 0.84. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.81. The stock has a 50 day moving average price of $10.85 and a two-hundred day moving average price of $11.26. 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 results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. Equities analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 13.39%. The ex-dividend date of this dividend was Monday, March 17th. New Mountain Finance’s dividend payout ratio (DPR) is presently 123.08%.

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.