Moloney Securities Asset Management LLC Sells 2,448 Shares of New Mountain Finance Corporation $NMFC

Moloney Securities Asset Management LLC trimmed its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,047 shares of the company’s stock after selling 2,448 shares during the period. Moloney Securities Asset Management LLC’s holdings in New Mountain Finance were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NMFC. LSV Asset Management lifted its position in shares of New Mountain Finance by 14.3% during the 1st quarter. LSV Asset Management now owns 2,764,111 shares of the company’s stock valued at $30,488,000 after buying an additional 346,508 shares during the last quarter. Millennium Management LLC raised its stake in New Mountain Finance by 36.9% in the 1st quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock valued at $7,843,000 after acquiring an additional 191,518 shares during the period. Trexquant Investment LP lifted its holdings in New Mountain Finance by 75.3% during the first quarter. Trexquant Investment LP now owns 291,634 shares of the company’s stock valued at $3,217,000 after purchasing an additional 125,230 shares during the last quarter. Tranquility Partners LLC lifted its holdings in New Mountain Finance by 92.6% during the second quarter. Tranquility Partners LLC now owns 232,087 shares of the company’s stock valued at $2,449,000 after purchasing an additional 111,615 shares during the last quarter. Finally, Invesco Ltd. boosted its position in New Mountain Finance by 10.7% during the first quarter. Invesco Ltd. now owns 1,091,476 shares of the company’s stock worth $12,039,000 after purchasing an additional 105,559 shares during the period. 32.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NMFC has been the topic of several research reports. Oppenheimer set a $11.00 price target on shares of New Mountain Finance and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Bank of America reissued 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. Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Saturday. Finally, New Street Research set a $10.00 target price on New Mountain Finance in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently 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. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.02 billion, a P/E ratio of 12.59 and a beta of 0.79. The stock has a 50-day moving average price of $9.90 and a 200-day moving average price of $10.22. New Mountain Finance Corporation has a 12-month low of $8.84 and a 12-month high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last released 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. The company had revenue of $83.49 million during the quarter, compared to the consensus estimate of $84.57 million. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.During the same quarter in the previous year, the company posted $0.36 EPS. Equities analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Adam B. Weinstein acquired 49,750 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were purchased at an average price of $10.03 per share, for a total transaction of $498,992.50. Following the completion of the acquisition, the executive vice president owned 652,490 shares in the company, valued at approximately $6,544,474.70. This represents a 8.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven B. Klinsky purchased 106,691 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were purchased at an average cost of $9.78 per share, with a total value of $1,043,437.98. Following the transaction, the director directly owned 4,370,857 shares in the company, valued at $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 157,191 shares of company stock worth $1,550,035. 11.71% of the stock is owned by corporate insiders.

New Mountain Finance Company Profile

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.