Ares Management LLC Reduces Position in New Mountain Finance Co. (NASDAQ:NMFC)

Ares Management LLC lessened its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 27.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 349,336 shares of the company’s stock after selling 131,923 shares during the period. New Mountain Finance makes up about 0.2% of Ares Management LLC’s portfolio, making the stock its 26th biggest position. Ares Management LLC owned approximately 0.36% of New Mountain Finance worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in New Mountain Finance during the 1st quarter worth approximately $68,000. Wolverine Asset Management LLC lifted its stake in New Mountain Finance by 110.8% during the 1st quarter. Wolverine Asset Management LLC now owns 8,674 shares of the company’s stock valued at $107,000 after acquiring an additional 4,559 shares during the period. Citigroup Inc. lifted its stake in New Mountain Finance by 3,555.9% during the 2nd quarter. Citigroup Inc. now owns 10,602 shares of the company’s stock valued at $140,000 after acquiring an additional 10,312 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in New Mountain Finance during the 1st quarter valued at approximately $145,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in New Mountain Finance by 12.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,189 shares of the company’s stock valued at $164,000 after acquiring an additional 1,500 shares during the period. 32.38% of the stock is currently owned by institutional investors.

NASDAQ NMFC traded down $0.04 on Thursday, hitting $13.62. 879 shares of the company’s stock traded hands, compared to its average volume of 385,667. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.39. New Mountain Finance Co. has a 1-year low of $8.94 and a 1-year high of $13.75. The firm’s 50-day moving average price is $13.37 and its two-hundred day moving average price is $13.22. The firm has a market capitalization of $1.32 billion, a PE ratio of 5.06 and a beta of 1.41.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Wednesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. New Mountain Finance had a net margin of 105.12% and a return on equity of 9.36%. The firm had revenue of $66.56 million during the quarter, compared to analysts’ expectations of $66.51 million. On average, research analysts anticipate that New Mountain Finance Co. will post 1.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.81%. The ex-dividend date was Wednesday, September 15th. New Mountain Finance’s dividend payout ratio is currently 99.17%.

Separately, Zacks Investment Research upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th.

In other news, Director Rome G. Arnold III bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 16th. The stock was purchased at an average cost of $13.15 per share, for a total transaction of $197,250.00. Following the purchase, the director now directly owns 37,423 shares in the company, valued at approximately $492,112.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.20% of the company’s stock.

New Mountain Finance Company Profile

New Mountain Finance Corporation is a business development company that specializes in investments in middle market companies and debt securities. The company invests in various industries that includes software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, and more.

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

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