State of New Jersey Common Pension Fund D reduced its stake in shares of New Mountain Finance Corporation (NYSE:NMFC) by 5.9% during the second quarter, Holdings Channel reports. The fund owned 400,000 shares of the investment management company’s stock after selling 25,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in New Mountain Finance Corporation were worth $5,820,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. raised its stake in shares of New Mountain Finance Corporation by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 15,535 shares of the investment management company’s stock valued at $231,000 after buying an additional 125 shares during the last quarter. Green Square Capital LLC raised its stake in shares of New Mountain Finance Corporation by 1.6% in the first quarter. Green Square Capital LLC now owns 24,994 shares of the investment management company’s stock valued at $372,000 after buying an additional 401 shares during the last quarter. CWA Asset Management Group LLC raised its stake in shares of New Mountain Finance Corporation by 4.3% in the first quarter. CWA Asset Management Group LLC now owns 18,350 shares of the investment management company’s stock valued at $273,000 after buying an additional 750 shares during the last quarter. Perennial Advisors LLC raised its stake in shares of 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 valued at $574,000 after buying an additional 1,080 shares during the last quarter. Finally, Rothschild Investment Corp IL raised its stake in shares of New Mountain Finance Corporation by 4.5% in the second quarter. Rothschild Investment Corp IL now owns 34,544 shares of the investment management company’s stock valued at $503,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 39.43% of the company’s stock.

New Mountain Finance Corporation (NYSE:NMFC) opened at 14.25 on Friday. New Mountain Finance Corporation has a 12 month low of $13.05 and a 12 month high of $15.00. The stock has a 50 day moving average of $14.41 and a 200-day moving average of $14.58.

New Mountain Finance Corporation (NYSE:NMFC) last released its quarterly earnings data 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 net margin of 65.22% and a return on equity of 10.15%. The firm had revenue of $50.02 million for the quarter, compared to the consensus estimate of $47.66 million. On average, analysts anticipate that New Mountain Finance Corporation will post $1.36 earnings per share for the current year.

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

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Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of New Mountain Finance Corporation from a “buy” rating to a “hold” rating in a research note on Saturday. BidaskClub lowered shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price target on shares of New Mountain Finance Corporation in a research note on Tuesday, July 25th.

In other news, CFO Shiraz Kajee bought 2,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was bought at an average price of $14.63 per share, for a total transaction of $29,260.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $29,260. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Ogens bought 3,600 shares of the stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $14.37 per share, with a total value of $51,732.00. Following the acquisition, the director now owns 49,654 shares of the company’s stock, valued at $713,527.98. The disclosure for this purchase can be found here. Corporate insiders own 9.73% of the company’s stock.

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.

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

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