Bank of Montreal Can Has $8.16 Million Position in New Mountain Finance Corporation (NMFC)
Bank of Montreal Can increased its stake in New Mountain Finance Corporation (NYSE:NMFC) by 15.5% during the fourth quarter, HoldingsChannel reports. The firm owned 602,000 shares of the investment management company’s stock after acquiring an additional 81,000 shares during the period. Bank of Montreal Can’s holdings in New Mountain Finance were worth $8,157,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of NMFC. Green Square Capital LLC grew its stake in New Mountain Finance by 1.7% during the 2nd quarter. Green Square Capital LLC now owns 25,414 shares of the investment management company’s stock valued at $370,000 after acquiring an additional 420 shares in the last quarter. BlueCrest Capital Management Ltd grew its stake in New Mountain Finance by 9.7% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 13,669 shares of the investment management company’s stock valued at $199,000 after acquiring an additional 1,203 shares in the last quarter. Stifel Financial Corp grew its stake in New Mountain Finance by 22.3% during the 2nd quarter. Stifel Financial Corp now owns 12,868 shares of the investment management company’s stock valued at $186,000 after acquiring an additional 2,343 shares in the last quarter. Global X MANAGEMENT CO LLC grew its stake in New Mountain Finance by 48.6% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,461 shares of the investment management company’s stock valued at $192,000 after acquiring an additional 4,404 shares in the last quarter. Finally, Magnetar Financial LLC grew its stake in New Mountain Finance by 7.3% during the 3rd quarter. Magnetar Financial LLC now owns 86,645 shares of the investment management company’s stock valued at $1,235,000 after acquiring an additional 5,905 shares in the last quarter. 39.42% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on NMFC. ValuEngine raised New Mountain Finance from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods set a $15.00 target price on New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, October 5th.
New Mountain Finance (NYSE:NMFC) last released its earnings results on Tuesday, November 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). New Mountain Finance had a net margin of 61.81% and a return on equity of 10.14%. equities research analysts forecast that New Mountain Finance Corporation will post 1.37 earnings per share for the current year.
In other news, insider James Stone purchased 12,000 shares of New Mountain Finance stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $14.19 per share, for a total transaction of $170,280.00. Following the acquisition, the insider now directly owns 87,438 shares in the company, valued at $1,240,745.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shiraz Kajee purchased 2,000 shares of New Mountain Finance stock in a transaction dated Friday, November 17th. The shares were purchased at an average price of $14.08 per share, with a total value of $28,160.00. Following the completion of the acquisition, the chief financial officer now owns 4,000 shares in the company, valued at $56,320. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 26,100 shares of company stock worth $369,068. Company insiders own 9.73% of the company’s stock.
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About New Mountain Finance
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.
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