14,000 Shares in New Mountain Finance Co. (NASDAQ:NMFC) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) in the third quarter, HoldingsChannel.com reports. The fund acquired 14,000 shares of the company’s stock, valued at approximately $168,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NMFC. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance during the third quarter worth $26,000. Quarry LP boosted its holdings in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after purchasing an additional 1,342 shares during the last quarter. Clearstead Trust LLC purchased a new position in shares of New Mountain Finance during the second quarter valued at about $98,000. Quantbot Technologies LP bought a new stake in shares of New Mountain Finance in the third quarter worth about $129,000. Finally, Centiva Capital LP bought a new position in New Mountain Finance during the third quarter valued at approximately $130,000. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Down 1.5 %

NMFC opened at $11.11 on Thursday. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.18. 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 stock has a 50-day moving average of $11.56 and a 200 day moving average of $11.99. The firm has a market cap of $1.20 billion, a P/E ratio of 10.58 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 the consensus estimate of $0.35 by ($0.01). The company had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. As a group, research analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.32 annualized dividend and a dividend yield of 11.88%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price target on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th.

Insider Buying and Selling at New Mountain Finance

In related news, Director Steven B. Klinsky purchased 150,609 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were purchased at an average cost 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 in the company, valued at approximately $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 firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at $3,841,470.36. This represents a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 252,250 shares of company stock worth $2,788,357 over the last 90 days. Company 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.