Farther Finance Advisors LLC Acquires 21,775 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Farther Finance Advisors LLC raised its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 154.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,885 shares of the company’s stock after acquiring an additional 21,775 shares during the period. Farther Finance Advisors LLC’s holdings in New Mountain Finance were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NMFC. Sumitomo Mitsui Trust Group Inc. grew its position in New Mountain Finance by 9.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,158 shares of the company’s stock valued at $4,075,000 after acquiring an additional 28,957 shares during the last quarter. Tranquility Partners LLC grew its position in New Mountain Finance by 2.5% during the third quarter. Tranquility Partners LLC now owns 398,344 shares of the company’s stock valued at $4,772,000 after acquiring an additional 9,591 shares during the last quarter. Cerity Partners LLC grew its position in New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after acquiring an additional 100,315 shares during the last quarter. Quantbot Technologies LP bought a new position in New Mountain Finance during the third quarter valued at approximately $129,000. Finally, BNP Paribas Financial Markets bought a new position in New Mountain Finance during the third quarter valued at approximately $26,000. 32.08% of the stock is currently owned by institutional investors.

Insider Activity

In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the purchase, the director now directly owns 179,020 shares of the company’s stock, valued at $2,047,988.80. The trade was a 2.87 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.22% of the company’s stock.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $10.94 on Tuesday. The firm has a market cap of $1.18 billion, a PE ratio of 10.42 and a beta of 1.16. New Mountain Finance Co. has a fifty-two week low of $10.62 and a fifty-two week high of $12.81. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The business has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.59.

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

New Mountain Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date is Monday, March 17th. New Mountain Finance’s dividend payout ratio (DPR) is presently 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.