New Mountain Finance Co. (NASDAQ:NMFC) Shares Purchased by Rockingstone Advisors LLC

Rockingstone Advisors LLC increased its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 79.1% in the fourth quarter, Holdings Channel reports. The firm owned 282,107 shares of the company’s stock after buying an additional 124,599 shares during the quarter. New Mountain Finance accounts for 1.4% of Rockingstone Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Rockingstone Advisors LLC’s holdings in New Mountain Finance were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in New Mountain Finance during the 3rd quarter worth approximately $26,000. Quarry LP lifted its position 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 acquiring an additional 1,342 shares during the period. Quantbot Technologies LP acquired a new stake in shares of New Mountain Finance during the 3rd quarter valued at approximately $129,000. Centiva Capital LP purchased a new stake in shares of New Mountain Finance during the 3rd quarter worth approximately $130,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of New Mountain Finance in the 3rd quarter worth approximately $168,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other New Mountain Finance news, CEO John Kline purchased 41,550 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was bought 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 of the company’s stock, valued at approximately $3,841,470.36. The trade was a 13.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven B. Klinsky bought 72,280 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $11.28 per share, with a total value of $815,318.40. Following the completion of the acquisition, the director now owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. This trade represents a 1.72 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 324,530 shares of company stock valued at $3,603,675. Corporate insiders own 10.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price objective 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.

New Mountain Finance Trading Up 0.5 %

NASDAQ:NMFC opened at $11.08 on Thursday. The company has a market capitalization of $1.19 billion, a PE ratio of 10.55 and a beta of 1.15. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.10. The stock has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $11.82. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance (NASDAQ:NMFC) last announced 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). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $95.33 million during the quarter, compared to analysts’ expectations of $94.10 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.33 per share. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, December 17th. This represents a $1.32 annualized dividend and a yield of 11.91%. New Mountain Finance’s dividend payout ratio (DPR) is presently 121.90%.

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.