Everstar Asset Management LLC Reduces Position in New Mountain Finance Co. (NASDAQ:NMFC)

Everstar Asset Management LLC trimmed its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,075 shares of the company’s stock after selling 14,398 shares during the quarter. Everstar Asset Management LLC’s holdings in New Mountain Finance were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NMFC. Jane Street Group LLC purchased a new position in New Mountain Finance during the third quarter worth approximately $375,000. Rockingstone Advisors LLC raised its holdings in shares of New Mountain Finance by 79.1% during the 4th quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock worth $3,177,000 after acquiring an additional 124,599 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of New Mountain Finance during the 4th quarter valued at about $208,000. HighTower Advisors LLC grew its holdings in shares of New Mountain Finance by 7.6% in the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after purchasing an additional 237,594 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in New Mountain Finance during the fourth quarter worth about $309,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $11.07 on Monday. The company’s 50-day moving average is $11.48 and its two-hundred day moving average is $11.52. New Mountain Finance Co. has a 1-year low of $10.62 and a 1-year high of $12.81. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.54 and a beta of 1.16.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. Analysts forecast that New Mountain Finance Co. will post 1.39 EPS 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. Investors of record on Monday, March 17th will be issued a $0.32 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 11.56%. New Mountain Finance’s dividend payout ratio (DPR) is currently 123.08%.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the acquisition, the director now owns 179,020 shares in the company, valued at $2,047,988.80. The trade was a 2.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.22% of the stock is currently owned by corporate insiders.

New Mountain Finance Profile

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.