Wealthedge Investment Advisors LLC Takes Position in New Mountain Finance Co. (NASDAQ:NMFC)

Wealthedge Investment Advisors LLC purchased a new stake in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 53,942 shares of the company's stock, valued at approximately $607,000. Wealthedge Investment Advisors LLC owned 0.05% of New Mountain Finance at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vise Technologies Inc. increased its holdings in shares of New Mountain Finance by 7.2% in the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock valued at $186,000 after acquiring an additional 1,110 shares during the period. Inspire Investing LLC increased its holdings in shares of New Mountain Finance by 3.5% in the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company's stock valued at $399,000 after acquiring an additional 1,188 shares during the period. Lido Advisors LLC increased its holdings in shares of New Mountain Finance by 2.7% in the 4th quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock valued at $513,000 after acquiring an additional 1,199 shares during the period. ProShare Advisors LLC increased its holdings 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 valued at $204,000 after acquiring an additional 2,664 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings 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 valued at $351,000 after acquiring an additional 3,708 shares during the period. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NMFC has been the topic of several research analyst reports. B. Riley initiated coverage on New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their target price on New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th.

New Mountain Finance Stock Performance

NASDAQ:NMFC traded down $0.03 during trading hours on Friday, reaching $10.74. The company had a trading volume of 286,012 shares, compared to its average volume of 473,931. New Mountain Finance Co. has a 1-year low of $8.84 and a 1-year high of $12.65. The firm has a market cap of $1.16 billion, a PE ratio of 10.23 and a beta of 0.85. The business's 50 day moving average price is $10.24 and its 200-day moving average price is $11.05. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, hitting 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 company had revenue of $85.66 million during the quarter, compared to analysts' expectations of $86.65 million. During the same quarter in the prior year, the firm posted $0.36 EPS. New Mountain Finance's quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.92%. New Mountain Finance's dividend payout ratio (DPR) is presently 128.00%.

Insider Activity

In other news, Director David Ogens purchased 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. This represents a 2.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.71% of the company's stock.

About New Mountain Finance

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.