Y Intercept Hong Kong Ltd Sells 42,324 Shares of New Mountain Finance Corporation $NMFC

Y Intercept Hong Kong Ltd decreased its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 74.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,772 shares of the company’s stock after selling 42,324 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in New Mountain Finance were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of New Mountain Finance by 3.8% in the 2nd quarter. International Assets Investment Management LLC now owns 32,438 shares of the company’s stock worth $342,000 after purchasing an additional 1,179 shares during the last quarter. Sei Investments Co. grew its position in New Mountain Finance by 1.3% during the 1st quarter. Sei Investments Co. now owns 96,603 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,254 shares during the last quarter. Farther Finance Advisors LLC increased its stake in New Mountain Finance by 2.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after purchasing an additional 1,359 shares in the last quarter. Union Bancaire Privee UBP SA raised its holdings in New Mountain Finance by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock worth $304,000 after buying an additional 1,393 shares during the last quarter. Finally, MAI Capital Management raised its holdings 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 buying an additional 2,261 shares during the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NMFC shares. Bank of America reissued an “underperform” rating and set a $10.00 price target (down previously from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the company a “market perform” rating in a research note on Wednesday, August 6th. New Street Research set a $10.00 price target on New Mountain Finance in a research note on Friday, October 10th. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.17.

Insider Activity

In other New Mountain Finance news, Director Steven B. Klinsky purchased 106,691 shares of New Mountain Finance stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average price of $9.78 per share, with a total value of $1,043,437.98. Following the transaction, the director directly owned 4,370,857 shares of the company’s stock, valued at $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adam B. Weinstein acquired 49,750 shares of the stock in a transaction dated Monday, September 15th. The stock was acquired at an average price of $10.03 per share, for a total transaction of $498,992.50. Following the purchase, the executive vice president directly owned 652,490 shares in the company, valued at approximately $6,544,474.70. This trade represents a 8.25% 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 owned by corporate insiders.

New Mountain Finance Price Performance

Shares of NMFC opened at $9.62 on Monday. The firm has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $10.24. The firm has a market cap of $992.40 million, a PE ratio of 14.80 and a beta of 0.77. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $80.53 million during the quarter, compared to analyst estimates of $83.91 million. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.New Mountain Finance’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities analysts anticipate that New Mountain Finance Corporation will post 1.39 EPS for the current year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Wednesday, December 17th. New Mountain Finance’s payout ratio is currently 196.92%.

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.