SVB Wealth LLC Makes New $279,000 Investment in New Mountain Finance Co. (NASDAQ:NMFC)

SVB Wealth LLC bought a new position in shares of New Mountain Finance Co. (NASDAQ:NMFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,735 shares of the company’s stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NMFC. HighTower Advisors LLC boosted its position in New Mountain Finance by 7.6% during the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after purchasing an additional 237,594 shares during the period. Franklin Resources Inc. bought a new position in New Mountain Finance during the third quarter worth about $2,608,000. Rockingstone Advisors LLC lifted its holdings in shares of New Mountain Finance by 79.1% in the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock worth $3,177,000 after buying an additional 124,599 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of New Mountain Finance in the fourth quarter worth about $1,170,000. Finally, Cerity Partners LLC lifted its holdings in shares of New Mountain Finance by 2.7% in the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock worth $45,811,000 after buying an additional 100,315 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Down 0.6 %

Shares of New Mountain Finance stock opened at $11.31 on Thursday. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.01. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 10.77 and a beta of 1.16. 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 company’s 50-day moving average price is $11.49 and its 200-day moving average price is $11.66.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. On average, equities analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date of this dividend is Monday, March 17th. New Mountain Finance’s payout ratio is 123.08%.

Insider Transactions at New Mountain Finance

In related news, Director Steven B. Klinsky bought 72,280 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $11.28 per share, with a total value of $815,318.40. Following the completion of the purchase, the director now directly owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. This trade represents a 1.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 10.22% of the company’s stock.

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.