WFA Asset Management Corp Sells 36,307 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

WFA Asset Management Corp reduced its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 89.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,399 shares of the company’s stock after selling 36,307 shares during the period. WFA Asset Management Corp’s holdings in New Mountain Finance were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cerity Partners LLC grew its position in New Mountain Finance by 2.7% in the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after acquiring an additional 100,315 shares during the period. HighTower Advisors LLC boosted its stake in shares of New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after purchasing an additional 237,594 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of New Mountain Finance by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after purchasing an additional 168,719 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of New Mountain Finance by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company’s stock worth $15,081,000 after purchasing an additional 15,988 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in New Mountain Finance by 5.4% during the 2nd quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock valued at $5,591,000 after purchasing an additional 23,406 shares during the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Trading Up 1.2 %

Shares of NMFC opened at $11.72 on Friday. The stock has a fifty day moving average price of $11.44 and a two-hundred day moving average price of $11.74. 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 company has a market cap of $1.26 billion, a price-to-earnings ratio of 11.16 and a beta of 1.15. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.04.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $95.33 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. Analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut 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 research note on Tuesday, October 29th.

Insiders Place Their Bets

In related news, Director Steven B. Klinsky acquired 150,609 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $1,637,119.83. Following the transaction, the director now directly owns 3,632,326 shares of the company’s stock, valued at approximately $39,483,383.62. This trade represents a 4.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Kline acquired 41,550 shares of New Mountain Finance stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost 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 in the company, valued at approximately $3,841,470.36. This represents a 13.39 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 324,530 shares of company stock valued at $3,603,675. Insiders own 10.22% of the company’s stock.

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.