Wealthedge Investment Advisors LLC bought a new position in New Mountain Finance Co. (NASDAQ:NMFC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 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 reporting period.
A number of other hedge funds also recently bought and sold shares of NMFC. Invesco Ltd. boosted its stake in New Mountain Finance by 1,929.2% in the 4th quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after purchasing an additional 937,331 shares in the last quarter. Millennium Management LLC boosted its stake in New Mountain Finance by 102.2% in the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company's stock worth $5,850,000 after purchasing an additional 262,631 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in New Mountain Finance in the 4th quarter worth about $2,359,000. Naviter Wealth LLC bought a new position in New Mountain Finance in the 4th quarter worth about $2,130,000. Finally, Franklin Resources Inc. boosted its stake in New Mountain Finance by 62.0% in the 4th quarter. Franklin Resources Inc. now owns 362,751 shares of the company's stock worth $4,085,000 after purchasing an additional 138,860 shares in the last quarter. Institutional investors own 32.08% of the company's stock.
Wall Street Analyst Weigh In
NMFC has been the topic of a number of analyst reports. B. Riley initiated coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of 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 lowered their target price on shares of 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.
Check Out Our Latest Research Report on New Mountain Finance
Insider Transactions at New Mountain Finance
In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now directly owns 179,020 shares of the company's stock, valued at approximately $2,047,988.80. This trade represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.71% of the company's stock.
New Mountain Finance Stock Performance
NMFC traded down $0.03 during midday trading on Friday, hitting $10.74. 286,012 shares of the company traded hands, compared to its average volume of 472,518. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $1.16 billion, a PE ratio of 10.23 and a beta of 0.85. The company's 50-day moving average is $10.23 and its 200 day moving average is $11.04. New Mountain Finance Co. has a 52 week low of $8.84 and a 52 week high of $12.65.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $85.66 million for the quarter, compared to analysts' expectations of $86.65 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.92%. The ex-dividend date of this dividend is Monday, June 16th. New Mountain Finance's dividend payout ratio (DPR) is presently 128.00%.
New Mountain Finance Profile
(
Free Report)
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.
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