New Mountain Finance Co. (NASDAQ:NMFC) Stake Lessened by Bard Associates Inc.

Bard Associates Inc. lowered its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,473 shares of the company’s stock after selling 1,700 shares during the period. Bard Associates Inc.’s holdings in New Mountain Finance were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NMFC. Stephens Inc. AR lifted its holdings in shares of New Mountain Finance by 10.9% in the third quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock valued at $305,000 after purchasing an additional 2,500 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of New Mountain Finance in the third quarter valued at $169,000. Van ECK Associates Corp raised its holdings in shares of New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after acquiring an additional 168,719 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of New Mountain Finance by 1.1% during the third quarter. Confluence Investment Management LLC now owns 428,334 shares of the company’s stock worth $5,131,000 after acquiring an additional 4,756 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of New Mountain Finance by 0.7% during the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock worth $3,898,000 after acquiring an additional 2,389 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In related news, Director Steven B. Klinsky bought 16,624 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $11.74 per share, for a total transaction of $195,165.76. Following the completion of the acquisition, the director now directly owns 4,133,737 shares in the company, valued at approximately $48,530,072.38. This represents a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.22% of the company’s stock.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $11.62 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 1 year low of $10.61 and a 1 year high of $13.01. The business has a fifty day simple moving average of $11.49 and a 200 day simple moving average of $11.67. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 11.07 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $92.89 million for the quarter, compared to analysts’ expectations of $93.23 million. As a group, sell-side analysts predict that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.02%. New Mountain Finance’s dividend payout ratio (DPR) is currently 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.