Dorsey & Whitney Trust CO LLC Sells 23,052 Shares of New Mountain Finance Corporation $NMFC

Dorsey & Whitney Trust CO LLC lessened its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,410 shares of the company’s stock after selling 23,052 shares during the period. Dorsey & Whitney Trust CO LLC owned approximately 0.11% of New Mountain Finance worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NMFC. MTM Investment Management LLC purchased a new position in shares of New Mountain Finance in the 2nd quarter worth $38,000. Huntington National Bank grew its position in New Mountain Finance by 311.8% in the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares in the last quarter. MAI Capital Management grew its position in New Mountain Finance by 44.9% in the first quarter. MAI Capital Management now owns 7,295 shares of the company’s stock worth $80,000 after acquiring an additional 2,261 shares in the last quarter. Quarry LP increased its stake in New Mountain Finance by 360.7% during the first quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after acquiring an additional 6,338 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in New Mountain Finance during the first quarter valued at approximately $130,000. Institutional investors own 32.08% of the company’s stock.

Insider Buying and Selling

In other news, EVP Adam B. Weinstein acquired 49,750 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were bought at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the purchase, the executive vice president directly owned 652,490 shares in the company, valued at $6,544,474.70. This trade represents a 8.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven B. Klinsky bought 106,691 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were purchased at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the completion of the transaction, the director owned 4,370,857 shares in the company, valued at $42,746,981.46. This represents a 2.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NMFC. Bank of America reiterated an “underperform” rating and issued a $10.00 target price (down previously from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. New Street Research set a $10.00 price objective on shares of New Mountain Finance in a research note on Friday, October 10th. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the company a “market perform” rating in a research report on Wednesday, August 6th. B. Riley restated a “neutral” rating and issued a $10.00 target price (down previously from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $10.17.

New Mountain Finance Stock Down 2.5%

NASDAQ:NMFC opened at $9.19 on Tuesday. The company has a market cap of $948.04 million, a price-to-earnings ratio of 14.14 and a beta of 0.77. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.05. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $10.21.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm had revenue of $80.53 million for the quarter, compared to analysts’ expectations of $83.91 million. During the same period in the prior year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. Analysts anticipate that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Wednesday, December 17th. New Mountain Finance’s payout ratio is currently 196.92%.

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.