New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 59.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,197 shares of the company’s stock after selling 48,272 shares during the period. Sigma Planning Corp’s holdings in New Mountain Finance were worth $422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NMFC. DAVENPORT & Co LLC acquired a new stake in New Mountain Finance during the 3rd quarter valued at $177,000. Commonwealth Equity Services LLC raised its stake in New Mountain Finance by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 132,854 shares of the company’s stock valued at $1,720,000 after purchasing an additional 10,504 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in New Mountain Finance by 1.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 105,069 shares of the company’s stock valued at $1,361,000 after purchasing an additional 1,455 shares during the period. Lindbrook Capital LLC raised its stake in New Mountain Finance by 4.4% during the 3rd quarter. Lindbrook Capital LLC now owns 393,175 shares of the company’s stock valued at $5,092,000 after purchasing an additional 16,750 shares during the period. Finally, GraniteShares Advisors LLC increased its stake in shares of New Mountain Finance by 4.0% in the third quarter. GraniteShares Advisors LLC now owns 119,515 shares of the company’s stock worth $1,548,000 after acquiring an additional 4,585 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Trading Up 1.1 %

NASDAQ NMFC opened at $12.72 on Friday. New Mountain Finance Co. has a 1-year low of $11.38 and a 1-year high of $13.23. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.35 billion, a PE ratio of 10.18 and a beta of 1.13. The firm’s fifty day simple moving average is $12.60 and its 200-day simple moving average is $12.72.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. The business had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.03 million. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that New Mountain Finance Co. will post 1.53 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 11.32%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 14th. New Mountain Finance’s dividend payout ratio is presently 102.40%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on shares of New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th.

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.