Transcend Capital Advisors LLC Lowers Position in New Mountain Finance Corporation $NMFC

Transcend Capital Advisors LLC cut its stake in New Mountain Finance Corporation (NASDAQ:NMFC) by 41.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 420,509 shares of the company’s stock after selling 295,284 shares during the quarter. Transcend Capital Advisors LLC’s holdings in New Mountain Finance were worth $3,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of New Mountain Finance by 23.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock worth $5,844,000 after purchasing an additional 114,840 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of New Mountain Finance by 29.5% in the third quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company’s stock worth $15,382,000 after purchasing an additional 363,443 shares during the last quarter. Muzinich & Co. Inc. raised its stake in shares of New Mountain Finance by 26.6% in the fourth quarter. Muzinich & Co. Inc. now owns 849,437 shares of the company’s stock worth $7,823,000 after purchasing an additional 178,381 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of New Mountain Finance by 17.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 480,420 shares of the company’s stock worth $4,631,000 after purchasing an additional 70,277 shares during the last quarter. Finally, Tranquility Partners LLC raised its stake in shares of New Mountain Finance by 36.4% in the third quarter. Tranquility Partners LLC now owns 316,671 shares of the company’s stock worth $3,053,000 after purchasing an additional 84,584 shares during the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Laura C. Holson Boswerger acquired 12,500 shares of New Mountain Finance stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the acquisition, the chief operating officer owned 81,030 shares in the company, valued at approximately $627,172.20. This trade represents a 18.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam B. Weinstein acquired 12,900 shares of New Mountain Finance stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $7.61 per share, with a total value of $98,169.00. Following the completion of the acquisition, the executive vice president owned 751,756 shares of the company’s stock, valued at $5,720,863.16. This trade represents a 1.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,200,673 shares of company stock valued at $9,662,634 over the last three months. Corporate insiders own 14.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NMFC shares. Wall Street Zen raised New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. B. Riley Financial lowered their price objective on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Wednesday, March 4th. Finally, Zacks Research lowered New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $9.25.

New Mountain Finance Stock Performance

NMFC stock opened at $8.13 on Tuesday. The firm has a market cap of $800.89 million, a PE ratio of 54.20 and a beta of 0.54. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $8.00 and a 200-day moving average of $8.87. New Mountain Finance Corporation has a 12-month low of $7.47 and a 12-month high of $11.04.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 15.7%. New Mountain Finance’s dividend payout ratio is currently 853.33%.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.