Advisors Asset Management Inc. cut its position in shares of New Mountain Finance Corp. (NYSE:NMFC) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,512 shares of the investment management company’s stock after selling 330,825 shares during the period. Advisors Asset Management Inc.’s holdings in New Mountain Finance Corp. were worth $6,185,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of New Mountain Finance Corp. during the second quarter worth $4,457,000. Green Square Capital LLC acquired a new stake in New Mountain Finance Corp. during the second quarter worth approximately $199,000. Confluence Investment Management LLC increased its stake in New Mountain Finance Corp. by 0.8% in the second quarter. Confluence Investment Management LLC now owns 824,266 shares of the investment management company’s stock worth $10,633,000 after buying an additional 6,925 shares during the last quarter. First Trust Advisors LP acquired a new stake in New Mountain Finance Corp. during the second quarter worth approximately $342,000. Finally, Neuberger Berman Group LLC increased its stake in New Mountain Finance Corp. by 1.3% in the second quarter. Neuberger Berman Group LLC now owns 607,485 shares of the investment management company’s stock worth $7,837,000 after buying an additional 8,000 shares during the last quarter.
Shares of New Mountain Finance Corp. (NYSE:NMFC) opened at 14.50 on Friday. The firm has a 50-day moving average of $14.12 and a 200-day moving average of $13.76. The firm has a market cap of $1.01 billion and a P/E ratio of 16.09. New Mountain Finance Corp. has a 12-month low of $10.87 and a 12-month high of $14.60.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $1.36 dividend on an annualized basis and a yield of 9.38%.
Separately, Zacks Investment Research downgraded shares of New Mountain Finance Corp. from a “hold” rating to a “sell” rating in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.50.
In other news, Director Steven B. Klinsky purchased 12,154 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average cost of $13.47 per share, for a total transaction of $163,714.38. Following the completion of the purchase, the director now directly owns 5,147,620 shares in the company, valued at approximately $69,338,441.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kline purchased 4,200 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average price of $13.20 per share, for a total transaction of $55,440.00. Following the completion of the purchase, the insider now owns 26,617 shares of the company’s stock, valued at $351,344.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 424,114 shares of company stock worth $5,649,343.
New Mountain Finance Corp. Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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