Perennial Advisors LLC Has $391,000 Stake in New Mountain Finance Corp. (NYSE:NMFC)

Perennial Advisors LLC decreased its stake in New Mountain Finance Corp. (NYSE:NMFC) by 21.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,060 shares of the investment management company’s stock after selling 8,292 shares during the quarter. Perennial Advisors LLC’s holdings in New Mountain Finance were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NMFC. Cliffwater LLC grew its holdings in shares of New Mountain Finance by 77.6% during the third quarter. Cliffwater LLC now owns 542,366 shares of the investment management company’s stock worth $7,322,000 after buying an additional 236,968 shares in the last quarter. Dimension Capital Management LLC grew its stake in New Mountain Finance by 17.2% in the third quarter. Dimension Capital Management LLC now owns 626,201 shares of the investment management company’s stock valued at $8,454,000 after purchasing an additional 92,099 shares in the last quarter. Sanders Morris Harris LLC bought a new position in New Mountain Finance in the third quarter valued at approximately $791,000. Round Table Services LLC grew its stake in New Mountain Finance by 2.6% in the third quarter. Round Table Services LLC now owns 1,768,099 shares of the investment management company’s stock valued at $23,869,000 after purchasing an additional 45,385 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in New Mountain Finance in the third quarter valued at approximately $513,000. 36.03% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on NMFC shares. ValuEngine upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. TheStreet lowered New Mountain Finance from a “b-” rating to a “c” rating in a research report on Friday, November 9th. Finally, Zacks Investment Research lowered New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Saturday, January 12th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.67.

In related news, insider John Kline acquired 17,000 shares of the stock in a transaction dated Monday, December 17th. The stock was purchased at an average cost of $12.69 per share, with a total value of $215,730.00. Following the completion of the purchase, the insider now directly owns 102,304 shares in the company, valued at approximately $1,298,237.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven B. Klinsky acquired 181,805 shares of the stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $12.52 per share, with a total value of $2,276,198.60. Following the completion of the purchase, the director now owns 56,009 shares of the company’s stock, valued at $701,232.68. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 231,505 shares of company stock worth $2,918,803. 10.27% of the stock is owned by company insiders.

Shares of New Mountain Finance stock opened at $13.70 on Thursday. New Mountain Finance Corp. has a one year low of $12.06 and a one year high of $14.30. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market cap of $1.04 billion, a P/E ratio of 10.62 and a beta of 0.62.

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New Mountain Finance Company Profile

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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Institutional Ownership by Quarter for New Mountain Finance (NYSE:NMFC)

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