Pinebridge Investments L.P. increased its stake in New Mountain Finance Corporation (NYSE:NMFC) by 50.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,504 shares of the investment management company’s stock after buying an additional 8,860 shares during the quarter. Pinebridge Investments L.P.’s holdings in New Mountain Finance were worth $378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Airain ltd bought a new stake in New Mountain Finance in the 2nd quarter valued at $149,000. Cetera Investment Advisers bought a new stake in New Mountain Finance in the 2nd quarter valued at $153,000. Financial Counselors Inc. bought a new stake in New Mountain Finance in the 2nd quarter valued at $155,000. Alliancebernstein L.P. bought a new stake in New Mountain Finance in the 2nd quarter valued at $160,000. Finally, OxFORD Asset Management LLP bought a new stake in New Mountain Finance in the 3rd quarter valued at $161,000. 39.48% of the stock is owned by institutional investors.

New Mountain Finance Corporation (NMFC) traded down $0.10 during mid-day trading on Tuesday, reaching $14.20. The company’s stock had a trading volume of 293,400 shares, compared to its average volume of 342,582. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $1,084.01, a PE ratio of 10.59 and a beta of 0.59. New Mountain Finance Corporation has a 1 year low of $13.40 and a 1 year high of $15.00.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 9.58%. The ex-dividend date of this dividend is Thursday, December 14th. New Mountain Finance’s payout ratio is 90.07%.

In other news, CFO Shiraz Kajee acquired 2,000 shares of the stock in a transaction on Friday, November 17th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $28,160.00. Following the transaction, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $56,320. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Stone acquired 12,000 shares of the stock in a transaction on Thursday, December 7th. The shares were purchased at an average price of $14.19 per share, for a total transaction of $170,280.00. Following the transaction, the insider now directly owns 87,438 shares in the company, valued at $1,240,745.22. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,200 shares of company stock worth $314,498 in the last quarter. Company insiders own 9.73% of the company’s stock.

NMFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price target on shares of New Mountain Finance in a research note on Thursday, August 31st. BidaskClub cut New Mountain Finance from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 2nd. Finally, ValuEngine upgraded New Mountain Finance from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th.

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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.

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

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