Whittier Trust Co. Sells 31,873 Shares of New Mountain Finance Corporation $NMFC

Whittier Trust Co. cut its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 66.3% during the second quarter, Holdings Channel.com reports. The fund owned 16,222 shares of the company’s stock after selling 31,873 shares during the period. Whittier Trust Co.’s holdings in New Mountain Finance were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NMFC. Oppenheimer & Co. Inc. boosted its stake in New Mountain Finance by 7.9% in the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock valued at $371,000 after acquiring an additional 2,450 shares during the last quarter. Tranquility Partners LLC increased its position in shares of New Mountain Finance by 32.6% in the 1st quarter. Tranquility Partners LLC now owns 120,472 shares of the company’s stock valued at $1,329,000 after buying an additional 29,600 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in New Mountain Finance during the 1st quarter worth $4,674,000. Sumitomo Mitsui Trust Group Inc. raised its stake in New Mountain Finance by 19.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 387,176 shares of the company’s stock worth $4,271,000 after buying an additional 61,809 shares during the period. Finally, Naviter Wealth LLC lifted its holdings in New Mountain Finance by 4.5% during the first quarter. Naviter Wealth LLC now owns 197,677 shares of the company’s stock worth $2,251,000 after acquiring an additional 8,548 shares in the last quarter. 32.08% of the stock is owned by institutional investors.

Insider Transactions at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky acquired 106,691 shares of New Mountain Finance stock in a transaction dated Tuesday, September 16th. The stock was bought at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the purchase, the director directly owned 4,370,857 shares in the company, valued at approximately $42,746,981.46. This represents a 2.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Adam B. Weinstein acquired 49,750 shares of New Mountain Finance stock in a transaction dated Monday, September 15th. The shares were acquired at an average price of $10.03 per share, with a total value of $498,992.50. Following the completion of the purchase, the executive vice president owned 652,490 shares in the company, valued at approximately $6,544,474.70. The trade was a 8.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 157,191 shares of company stock valued at $1,550,035. Company insiders own 11.71% of the company’s stock.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $9.57 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of 12.59 and a beta of 0.79. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.05. The company has a fifty day moving average price of $9.90 and a 200 day moving average price of $10.21.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The firm had revenue of $83.49 million during the quarter, compared to analyst estimates of $84.57 million. During the same period in the prior year, the business earned $0.36 EPS. Research analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NMFC has been the subject of several recent analyst reports. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Bank of America reissued an “underperform” rating and set a $10.00 target price (down from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. New Street Research set a $10.00 price target on shares of New Mountain Finance in a research note on Friday, October 10th. Finally, Oppenheimer set a $11.00 price target on shares of New Mountain Finance and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, New Mountain Finance currently has a consensus rating of “Reduce” and an average target price of $10.50.

About New Mountain Finance

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.