Naviter Wealth LLC Purchases New Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Naviter Wealth LLC acquired a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 189,129 shares of the company’s stock, valued at approximately $2,130,000. Naviter Wealth LLC owned about 0.18% of New Mountain Finance as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in New Mountain Finance in the third quarter valued at approximately $26,000. Larson Financial Group LLC grew its holdings in shares of New Mountain Finance by 4,746.5% in the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock worth $123,000 after purchasing an additional 10,727 shares during the last quarter. Quantbot Technologies LP bought a new stake in New Mountain Finance in the third quarter valued at $129,000. Centiva Capital LP bought a new stake in New Mountain Finance in the third quarter valued at $130,000. Finally, New World Advisors LLC bought a new stake in New Mountain Finance in the fourth quarter valued at $147,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at New Mountain Finance

In other news, Director David Ogens bought 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the transaction, the director now owns 179,020 shares of the company’s stock, valued at $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven B. Klinsky purchased 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 transaction, the director now owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. The trade was a 1.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.22% of the stock is currently owned by corporate insiders.

New Mountain Finance Stock Performance

Shares of New Mountain Finance stock opened at $11.38 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $1.23 billion, a P/E ratio of 10.84 and a beta of 1.16. The business has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $11.66. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.01.

New Mountain Finance (NASDAQ:NMFC) last posted 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). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.25%. 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.