Oppenheimer & Co. Inc. lifted its holdings in New Mountain Finance Corporation (NYSE:NMFC) by 269.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,294 shares of the investment management company’s stock after buying an additional 33,041 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.06% of New Mountain Finance worth $645,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Airain ltd acquired a new position in New Mountain Finance during the 2nd quarter worth approximately $149,000. Cetera Investment Advisers bought a new stake in shares of New Mountain Finance during the 2nd quarter worth approximately $153,000. Financial Counselors Inc. bought a new stake in shares of New Mountain Finance during the 2nd quarter worth approximately $155,000. Alliancebernstein L.P. bought a new stake in shares of New Mountain Finance during the 2nd quarter worth approximately $160,000. Finally, Stifel Financial Corp raised its stake in New Mountain Finance by 22.3% in 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 during the period. Institutional investors own 39.48% of the company’s stock.
A number of research firms recently weighed in on NMFC. Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, October 5th. ValuEngine upgraded New Mountain Finance from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, BidaskClub lowered New Mountain Finance from a “sell” rating to a “strong sell” rating in a report on Saturday, September 2nd.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 9.51%. New Mountain Finance’s payout ratio is currently 90.07%.
In related news, CFO Shiraz Kajee bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $14.08 per share, with a total value of $28,160.00. Following the completion of the transaction, the chief financial officer now directly owns 4,000 shares in the company, valued at $56,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Stone bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $14.19 per share, for a total transaction of $170,280.00. Following the transaction, the insider now owns 87,438 shares of the company’s stock, valued at $1,240,745.22. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 22,200 shares of company stock valued at $314,498. 9.73% of the stock is currently owned by corporate insiders.
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New Mountain Finance 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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