Hennion & Walsh Asset Management Inc. Buys 59,249 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Hennion & Walsh Asset Management Inc. raised its holdings in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 23.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,430 shares of the company's stock after purchasing an additional 59,249 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.29% of New Mountain Finance worth $3,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NMFC. Strategic Financial Concepts LLC purchased a new stake in shares of New Mountain Finance in the 4th quarter valued at about $208,000. Raymond James Financial Inc. bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $944,000. ProShare Advisors LLC grew its position in shares of New Mountain Finance by 17.2% in the 4th quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock worth $204,000 after buying an additional 2,664 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of New Mountain Finance by 13.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,174 shares of the company's stock worth $351,000 after buying an additional 3,708 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of New Mountain Finance by 232.7% during the fourth quarter. Jane Street Group LLC now owns 104,285 shares of the company's stock valued at $1,174,000 after purchasing an additional 72,944 shares in the last quarter. Institutional investors own 32.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NMFC shares. Wells Fargo & Company dropped their price target on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. B. Riley began coverage on New Mountain Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

New Mountain Finance Price Performance

New Mountain Finance stock traded up $0.09 during midday trading on Friday, reaching $10.77. 329,316 shares of the stock traded hands, compared to its average volume of 470,355. The stock's fifty day moving average is $10.20 and its 200-day moving average is $11.01. New Mountain Finance Co. has a 12 month low of $8.84 and a 12 month high of $12.65. The stock has a market cap of $1.16 billion, a P/E ratio of 10.26 and a beta of 0.80. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $85.66 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.32 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.28 annualized dividend and a dividend yield of 11.88%. New Mountain Finance's payout ratio is 128.00%.

New Mountain Finance Company 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.