Advisors Asset Management Inc. Trims Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Advisors Asset Management Inc. lessened its position in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 229,084 shares of the company’s stock after selling 32,479 shares during the quarter. Advisors Asset Management Inc.’s holdings in New Mountain Finance were worth $2,579,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC raised its position in New Mountain Finance by 3.5% in the fourth quarter. Inspire Investing LLC now owns 35,455 shares of the company’s stock valued at $399,000 after purchasing an additional 1,188 shares during the period. Confluence Investment Management LLC grew its stake in shares of New Mountain Finance by 0.3% during the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company’s stock worth $4,840,000 after purchasing an additional 1,472 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of New Mountain Finance during the third quarter worth $26,000. Stifel Financial Corp boosted its stake in New Mountain Finance by 5.3% in the third quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock valued at $565,000 after acquiring an additional 2,389 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in New Mountain Finance by 13.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company’s stock valued at $351,000 after acquiring an additional 3,708 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Insider Activity

In related news, Director David Ogens bought 5,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.22% of the company’s stock.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $11.00 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a 1 year low of $10.62 and a 1 year high of $12.81. The company has a market capitalization of $1.19 billion, a PE ratio of 10.48 and a beta of 1.16. The company has a fifty day moving average of $11.48 and a two-hundred day moving average of $11.57.

New Mountain Finance (NASDAQ:NMFC) last announced its 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). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. As a group, analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.64%. New Mountain Finance’s payout ratio is 123.08%.

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.