Whittier Trust Co. Has $171,000 Stock Holdings in New Mountain Finance Corporation $NMFC

Whittier Trust Co. lessened its holdings in New Mountain Finance Corporation (NASDAQ:NMFC) by 66.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management raised its position in New Mountain Finance by 44.9% in the first quarter. MAI Capital Management now owns 7,295 shares of the company’s stock worth $80,000 after purchasing an additional 2,261 shares in the last quarter. Quarry LP increased its holdings in shares of New Mountain Finance by 360.7% during the first quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after buying an additional 6,338 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of New Mountain Finance during the first quarter worth approximately $130,000. Truist Financial Corp acquired a new stake in shares of New Mountain Finance during the second quarter worth approximately $167,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of New Mountain Finance during the second quarter worth approximately $204,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Activity at New Mountain Finance

In other New Mountain Finance news, EVP Adam B. Weinstein acquired 49,750 shares of New Mountain Finance stock in a transaction on Monday, September 15th. The shares were purchased at an average cost 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 $6,544,474.70. The trade was a 8.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Klinsky acquired 106,691 shares of New Mountain Finance stock in a transaction on Tuesday, September 16th. The stock was acquired at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the purchase, the director owned 4,370,857 shares of the company’s stock, valued at approximately $42,746,981.46. The trade was a 2.50% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 157,191 shares of company stock worth $1,550,035 over the last three months. 11.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

New Mountain Finance Price Performance

NMFC opened at $9.57 on Friday. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.05. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. The company’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $10.21. The stock has a market capitalization of $1.02 billion, a P/E ratio of 12.59 and a beta of 0.79.

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

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.