1 week Ago By Defense World Staff
Bank of Montreal Can lessened its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC – Free Report) by 95.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission.
The institutional investor owned 47,355 shares of the company’s stock after selling 970,950 shares during the period. Bank of Montreal Can’s holdings in New Mountain Finance were worth $533,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors also recently made changes to their positions in the business.
Fox Run Management L.L.C.
acquired a new position in New Mountain Finance in the 4th quarter valued at $114,000. MQS Management LLC acquired a new stake in New Mountain Finance during the fourth quarter worth about $123,000. Larson Financial Group LLC increased its holdings in New Mountain Finance by 4,746.
5% in the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock valued at $123,000 after buying an additional 10,727 shares during the period. New World Advisors LLC bought a new position in New Mountain Finance in the 4th quarter valued at about $147,000.
Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at approximately $168,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.
New Mountain Finance Stock PerformanceNASDAQ:NMFC opened at $9.56 on Tuesday. New Mountain Finance Co.
has a twelve month low of $8.84 and a twelve month high of $12.81.
The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.
46. The stock’s 50-day simple moving average is $10.85 and its 200 day simple moving average is $11.
26. The firm has a market capitalization of $1.03 billion, a PE ratio of 9.
10 and a beta of 0.84. New Mountain Finance (NASDAQ:NMFC – Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.
23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.
25%. On average, analysts anticipate that New Mountain Finance Co. will post 1.
39 EPS for the current fiscal year. New Mountain Finance Cuts DividendThe company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.
32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.
39%. The ex-dividend date was Monday, March 17th. New Mountain Finance’s payout ratio is 123.
08%. Insider Activity at New Mountain FinanceIn other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $11.
44 per share, for a total transaction of $57,200.00. Following the acquisition, the director now directly owns 179,020 shares in the company, valued at $2,047,988.
80. This represents a 2.87 % increase in their ownership of the stock.
The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.71% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast GrowthSeparately, Keefe, Bruyette & Woods decreased their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th.
Read Our Latest Analysis on New Mountain FinanceAbout New Mountain Finance (Free Report)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.
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