Advisors Asset Management Inc. cut its holdings in New Mountain Finance Corporation (NYSE:NMFC) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,626 shares of the investment management company’s stock after selling 5,490 shares during the quarter. Advisors Asset Management Inc. owned 0.50% of New Mountain Finance Corporation worth $5,381,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of New Mountain Finance Corporation by 9.0% during the 2nd quarter. Royal Bank of Canada now owns 352,817 shares of the investment management company’s stock valued at $5,134,000 after buying an additional 29,189 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of New Mountain Finance Corporation by 25.7% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 572,991 shares of the investment management company’s stock valued at $8,165,000 after buying an additional 117,223 shares during the period. Capital Fund Management S.A. lifted its holdings in shares of New Mountain Finance Corporation by 94.3% during the 2nd quarter. Capital Fund Management S.A. now owns 96,938 shares of the investment management company’s stock valued at $1,410,000 after buying an additional 47,038 shares during the period. Ameriprise Financial Inc. bought a new position in shares of New Mountain Finance Corporation during the 1st quarter valued at $233,000. Finally, LSV Asset Management lifted its holdings in shares of New Mountain Finance Corporation by 6.5% during the 2nd quarter. LSV Asset Management now owns 1,706,726 shares of the investment management company’s stock valued at $24,832,000 after buying an additional 104,300 shares during the period. 40.78% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Shiraz Kajee acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average price of $14.08 per share, for a total transaction of $28,160.00. Following the completion of the transaction, the chief financial officer now directly owns 4,000 shares in the company, valued at approximately $56,320. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 9.73% of the company’s stock.

NMFC has been the subject of several analyst reports. BidaskClub lowered New Mountain Finance Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price objective on shares of New Mountain Finance Corporation in a research note on Tuesday, July 25th. ValuEngine upgraded New Mountain Finance Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered New Mountain Finance Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th.

Shares of New Mountain Finance Corporation (NMFC) traded up $0.10 during trading on Tuesday, hitting $14.20. The stock had a trading volume of 266,500 shares, compared to its average volume of 344,771. The stock has a market capitalization of $1,070.00, a price-to-earnings ratio of 10.44 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. New Mountain Finance Corporation has a 52-week low of $13.40 and a 52-week high of $15.00.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.58%. New Mountain Finance Corporation’s payout ratio is 87.74%.

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New Mountain Finance Corporation 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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