Ameriprise Financial Inc. Purchases New Position in New Mountain Finance Corporation (NYSE:NMFC)

Ameriprise Financial Inc. purchased a new position in shares of New Mountain Finance Corporation (NYSE:NMFC) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 15,675 shares of the investment management company’s stock, valued at approximately $233,000.

Several other hedge funds also recently made changes to their positions in the stock. Perennial Advisors LLC increased its position in New Mountain Finance Corporation by 2.9% in the first quarter. Perennial Advisors LLC now owns 38,510 shares of the investment management company’s stock worth $574,000 after buying an additional 1,080 shares during the last quarter. Nwam LLC boosted its stake in New Mountain Finance Corporation by 27.3% in the first quarter. Nwam LLC now owns 14,000 shares of the investment management company’s stock valued at $209,000 after buying an additional 3,000 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in New Mountain Finance Corporation by 3.6% in the first quarter. Janney Montgomery Scott LLC now owns 235,679 shares of the investment management company’s stock valued at $3,512,000 after buying an additional 8,185 shares during the last quarter. Sigma Planning Corp raised its position in New Mountain Finance Corporation by 11.9% in the first quarter. Sigma Planning Corp now owns 76,845 shares of the investment management company’s stock worth $1,145,000 after buying an additional 8,191 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in New Mountain Finance Corporation during the first quarter worth $148,000. 39.09% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Corporation (NYSE NMFC) traded down 0.35% during mid-day trading on Friday, hitting $14.25. The company had a trading volume of 201,352 shares. The company has a 50-day moving average price of $14.38 and a 200 day moving average price of $14.58. New Mountain Finance Corporation has a 52-week low of $13.05 and a 52-week high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last issued its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. New Mountain Finance Corporation had a return on equity of 10.15% and a net margin of 65.22%. The company had revenue of $50.02 million during the quarter, compared to the consensus estimate of $47.66 million. On average, analysts forecast that New Mountain Finance Corporation will post $1.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 9.54%. The ex-dividend date is Thursday, September 14th. New Mountain Finance Corporation’s payout ratio is 86.62%.

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NMFC has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, BidaskClub lowered shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th.

In related news, CFO Shiraz Kajee bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average price of $14.63 per share, with a total value of $29,260.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $29,260. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.73% of the stock is owned by corporate insiders.

New Mountain Finance Corporation Company 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.

Institutional Ownership by Quarter for New Mountain Finance Corporation (NYSE:NMFC)

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