New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. reduced its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 71,947 shares of the company’s stock after selling 3,501 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.07% of New Mountain Finance worth $915,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of New Mountain Finance in the 1st quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new position in shares of New Mountain Finance in the 2nd quarter worth approximately $49,000. Barclays PLC acquired a new stake in New Mountain Finance during the 3rd quarter worth approximately $63,000. BNP Paribas Arbitrage SA purchased a new position in New Mountain Finance in the 1st quarter valued at approximately $74,000. Finally, Harbour Investments Inc. boosted its position in New Mountain Finance by 141.0% in the 1st quarter. Harbour Investments Inc. now owns 5,583 shares of the company’s stock valued at $68,000 after buying an additional 3,266 shares during the period. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price target on shares of New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th.

New Mountain Finance Stock Performance

Shares of NMFC stock opened at $12.39 on Tuesday. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.34. New Mountain Finance Co. has a 52 week low of $11.38 and a 52 week high of $13.23. The stock has a market capitalization of $1.32 billion, a PE ratio of 9.91 and a beta of 1.13. The firm has a 50 day moving average of $12.62 and a two-hundred day moving average of $12.73.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. The company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.03 million. During the same quarter last year, the company posted $0.35 EPS. On average, research analysts predict that New Mountain Finance Co. will post 1.53 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.62%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 14th. New Mountain Finance’s dividend payout ratio (DPR) is presently 102.40%.

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.