First National Trust Co Has $1.92 Million Stake in New Mountain Finance Co. (NASDAQ:NMFC)

First National Trust Co boosted its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 101.1% in the third quarter, Holdings Channel reports. The firm owned 160,005 shares of the company’s stock after acquiring an additional 80,451 shares during the period. First National Trust Co’s holdings in New Mountain Finance were worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oak Family Advisors LLC grew its stake in New Mountain Finance by 0.7% in the 2nd quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock valued at $1,841,000 after buying an additional 1,020 shares during the last quarter. Quarry LP grew its position in shares of New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after purchasing an additional 1,342 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after purchasing an additional 1,800 shares during the period. Lindbrook Capital LLC lifted its position in shares of New Mountain Finance by 0.7% during the 3rd quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock worth $3,898,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in New Mountain Finance by 10.9% in the 3rd quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock valued at $305,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In related news, Director Steven B. Klinsky purchased 150,609 shares of the stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $1,637,119.83. Following the completion of the transaction, the director now directly owns 3,632,326 shares of the company’s stock, valued at approximately $39,483,383.62. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John Kline bought 41,550 shares of New Mountain Finance stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the acquisition, the chief executive officer now owns 351,783 shares in the company, valued at approximately $3,841,470.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven B. Klinsky bought 150,609 shares of the stock in a transaction on Wednesday, November 6th. The stock was purchased at an average cost of $10.87 per share, with a total value of $1,637,119.83. Following the purchase, the director now directly owns 3,632,326 shares of the company’s stock, valued at approximately $39,483,383.62. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.34% of the company’s stock.

New Mountain Finance Trading Up 0.2 %

Shares of NMFC opened at $11.39 on Wednesday. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.23. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.85 and a beta of 1.15. The stock’s 50-day moving average price is $11.73 and its 200 day moving average price is $12.16. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts predict that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.33 per share. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a yield of 11.59%. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price objective on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

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.