Envestnet Asset Management Inc. Buys 80,309 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Envestnet Asset Management Inc. lifted its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 139.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,773 shares of the company's stock after acquiring an additional 80,309 shares during the period. Envestnet Asset Management Inc. owned 0.13% of New Mountain Finance worth $1,551,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NMFC. Inspire Investing LLC boosted its stake in New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock worth $399,000 after purchasing an additional 1,188 shares during the period. Confluence Investment Management LLC grew its stake in New Mountain Finance by 0.3% during the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company's stock valued at $4,840,000 after acquiring an additional 1,472 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock valued at $351,000 after acquiring an additional 3,708 shares during the last quarter. First National Trust Co lifted its stake in New Mountain Finance by 2.9% in the 4th quarter. First National Trust Co now owns 164,579 shares of the company's stock worth $1,853,000 after purchasing an additional 4,574 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its stake in New Mountain Finance by 33.6% in the 4th quarter. Essex Financial Services Inc. now owns 19,017 shares of the company's stock worth $214,000 after purchasing an additional 4,783 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company's stock.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC traded up $0.18 on Friday, reaching $9.97. The company's stock had a trading volume of 436,205 shares, compared to its average volume of 470,152. The company has a 50-day simple moving average of $10.50 and a 200 day simple moving average of $11.15. New Mountain Finance Co. has a 52-week low of $8.84 and a 52-week high of $12.78. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $1.08 billion, a P/E ratio of 9.50 and a beta of 0.84.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. As a group, equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 annualized dividend and a yield of 12.84%. New Mountain Finance's payout ratio is presently 123.08%.

Insiders Place Their Bets

In other news, Director David Ogens purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $11.44 per share, with a total value of $57,200.00. Following the purchase, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NMFC has been the topic of several research reports. Wells Fargo & Company reduced their target price on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

New Mountain Finance Profile

New Mountain Finance Corporation Nasdaq: NMFC, a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.