New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,063,762 shares of the company’s stock after selling 19,781 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.84% of New Mountain Finance worth $37,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in New Mountain Finance in the first quarter valued at $40,000. EntryPoint Capital LLC acquired a new stake in New Mountain Finance during the first quarter worth about $52,000. Lazard Asset Management LLC purchased a new position in New Mountain Finance during the first quarter valued at approximately $126,000. ProShare Advisors LLC lifted its holdings in New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after acquiring an additional 1,800 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter worth approximately $181,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Price Performance

NMFC stock traded up $0.05 during mid-day trading on Tuesday, reaching $12.37. 28,292 shares of the company’s stock were exchanged, compared to its average volume of 393,764. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 11.10 and a beta of 1.15. New Mountain Finance Co. has a 12-month low of $11.60 and a 12-month high of $13.23. The stock’s 50 day moving average is $12.26 and its 200 day moving average is $12.48. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.11.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. The firm had revenue of $94.59 million for the quarter, compared to analyst estimates of $90.25 million. During the same period last year, the company posted $0.39 EPS. On average, research analysts expect that New Mountain Finance Co. will post 1.42 EPS for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 10.35%. The ex-dividend date is Monday, September 16th. New Mountain Finance’s payout ratio is 115.32%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their target price on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director David Ogens bought 3,500 shares of New Mountain Finance stock in a transaction dated Friday, June 7th. The stock was acquired at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the completion of the transaction, the director now directly owns 166,391 shares of the company’s stock, valued at $2,099,854.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.22% of the stock is currently owned by insiders.

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.