Sigma Planning Corp reduced its stake in shares of New Mountain Finance Corp. (NYSE:NMFC) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 92,716 shares of the investment management company’s stock after selling 2,156 shares during the quarter. Sigma Planning Corp’s holdings in New Mountain Finance were worth $1,295,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in shares of New Mountain Finance during the first quarter worth about $30,000. Arlington Partners LLC purchased a new stake in shares of New Mountain Finance during the second quarter worth about $36,000. Manchester Financial Inc. purchased a new stake in shares of New Mountain Finance during the second quarter worth about $36,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of New Mountain Finance during the first quarter worth about $350,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of New Mountain Finance during the first quarter worth about $68,000. 33.33% of the stock is currently owned by hedge funds and other institutional investors.
In other New Mountain Finance news, CAO Adam Weinstein bought 9,350 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $13.34 per share, for a total transaction of $124,729.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shiraz Kajee bought 2,500 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $13.38 per share, with a total value of $33,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at approximately $100,350. The disclosure for this purchase can be found here. Insiders acquired 14,700 shares of company stock valued at $196,392 over the last 90 days. 10.27% of the stock is currently owned by company insiders.
NMFC traded up $0.34 on Friday, hitting $13.74. The company had a trading volume of 410,100 shares, compared to its average volume of 422,479. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.04 and a quick ratio of 1.04. New Mountain Finance Corp. has a 52-week low of $12.06 and a 52-week high of $14.38. The stock has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $13.84. The firm has a market capitalization of $1.17 billion, a P/E ratio of 9.78 and a beta of 0.55.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.36 annualized dividend and a yield of 9.90%. New Mountain Finance’s dividend payout ratio (DPR) is presently 98.55%.
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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