Captrust Financial Advisors Sells 16,156 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Captrust Financial Advisors cut its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 10.3% in the third quarter, Holdings Channel reports. The fund owned 140,714 shares of the company’s stock after selling 16,156 shares during the period. Captrust Financial Advisors’ holdings in New Mountain Finance were worth $1,686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of New Mountain Finance by 38.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,590 shares of the company’s stock valued at $264,000 after acquiring an additional 5,950 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in New Mountain Finance by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock valued at $3,809,000 after purchasing an additional 44,114 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in New Mountain Finance by 33.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 125,459 shares of the company’s stock valued at $1,536,000 after purchasing an additional 31,491 shares during the last quarter. Stableford Capital II LLC raised its position in New Mountain Finance by 99.0% in the 2nd quarter. Stableford Capital II LLC now owns 79,339 shares of the company’s stock valued at $986,000 after purchasing an additional 39,466 shares during the last quarter. Finally, Oak Family Advisors LLC raised its position in New Mountain Finance by 0.7% in the 2nd quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock valued at $1,841,000 after purchasing an additional 1,020 shares during the last quarter. 32.08% of the stock is owned by institutional investors.

New Mountain Finance Trading Up 0.4 %

Shares of NASDAQ NMFC opened at $11.80 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average of $11.58 and a two-hundred day moving average of $12.05. New Mountain Finance Co. has a 1-year low of $10.61 and a 1-year high of $13.23. The company has a market cap of $1.27 billion, a PE ratio of 11.24 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, equities analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.33 per share. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.19%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s payout ratio is currently 121.91%.

Insider Buying and Selling

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 acquired at an average price of $10.87 per share, for a total transaction of $1,637,119.83. Following the completion of the acquisition, the director now owns 3,632,326 shares of the company’s stock, valued at $39,483,383.62. This trade represents a 4.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Kline acquired 41,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average price of $10.92 per share, with a total value of $453,726.00. Following the acquisition, the chief executive officer now directly owns 351,783 shares of the company’s stock, valued at $3,841,470.36. The trade was a 13.39 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 235,626 shares of company stock valued at $2,593,191 over the last ninety days. Insiders own 10.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut 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.

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.