Perennial Advisors LLC boosted its position in New Mountain Finance Corporation (NYSE:NMFC) by 20.6% during the second quarter, Holdings Channel reports. The fund owned 46,435 shares of the investment management company’s stock after buying an additional 7,925 shares during the period. Perennial Advisors LLC’s holdings in New Mountain Finance Corporation were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NMFC. Virginia Retirement Systems ET AL purchased a new position in shares of New Mountain Finance Corporation during the first quarter worth about $167,000. Ameriprise Financial Inc. purchased a new position in shares of New Mountain Finance Corporation during the first quarter worth about $233,000. Princeton Alpha Management LP boosted its position in shares of New Mountain Finance Corporation by 77.6% in the first quarter. Princeton Alpha Management LP now owns 27,332 shares of the investment management company’s stock worth $407,000 after buying an additional 11,941 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of New Mountain Finance Corporation during the first quarter worth about $744,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of New Mountain Finance Corporation during the first quarter worth about $148,000. 39.24% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Corporation (NYSE:NMFC) opened at 14.35 on Friday. The firm has a 50-day moving average price of $14.42 and a 200-day moving average price of $14.59. New Mountain Finance Corporation has a one year low of $13.05 and a one year high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last issued its quarterly earnings results on Monday, May 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. New Mountain Finance Corporation had a return on equity of 10.06% and a net margin of 78.68%. The firm had revenue of $43.31 million during the quarter, compared to analyst estimates of $44.09 million. On average, equities research analysts predict that New Mountain Finance Corporation will post $1.36 earnings per share for the current year.

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A number of brokerages have issued reports on NMFC. Zacks Investment Research cut New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods set a $15.00 target price on New Mountain Finance Corporation and gave the stock a “hold” rating in a report on Wednesday, May 31st. Finally, BidaskClub cut New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.

In other news, CFO Shiraz Kajee purchased 2,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $14.63 per share, with a total value of $29,260.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $29,260. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Ogens purchased 3,600 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $14.37 per share, with a total value of $51,732.00. Following the purchase, the director now owns 49,654 shares of the company’s stock, valued at $713,527.98. The disclosure for this purchase can be found here. Insiders own 9.73% of the company’s stock.

New Mountain Finance Corporation Company Profile

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

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

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