New Mountain Finance Corporation $NMFC Shares Sold by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC cut its position in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 8.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 139,893 shares of the company’s stock after selling 12,985 shares during the quarter. Wealthedge Investment Advisors LLC’s holdings in New Mountain Finance were worth $1,476,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of New Mountain Finance by 94.9% in the first quarter. Cetera Investment Advisers now owns 24,146 shares of the company’s stock worth $266,000 after acquiring an additional 11,754 shares during the period. LPL Financial LLC increased its stake in shares of New Mountain Finance by 5.3% in the 1st quarter. LPL Financial LLC now owns 184,034 shares of the company’s stock valued at $2,030,000 after purchasing an additional 9,260 shares in the last quarter. Mackenzie Financial Corp acquired a new position in New Mountain Finance in the 1st quarter worth about $374,000. LSV Asset Management raised its holdings in New Mountain Finance by 14.3% in the 1st quarter. LSV Asset Management now owns 2,764,111 shares of the company’s stock worth $30,488,000 after purchasing an additional 346,508 shares during the period. Finally, Invesco Ltd. boosted its position in New Mountain Finance by 10.7% during the first quarter. Invesco Ltd. now owns 1,091,476 shares of the company’s stock worth $12,039,000 after purchasing an additional 105,559 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Buying and Selling at New Mountain Finance

In related news, EVP Adam B. Weinstein bought 49,750 shares of the company’s stock in a transaction on Monday, September 15th. The stock was bought at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the acquisition, the executive vice president directly owned 652,490 shares in the company, valued at $6,544,474.70. This represents a 8.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven B. Klinsky purchased 106,691 shares of New Mountain Finance stock in a transaction dated Tuesday, September 16th. The shares were bought at an average price of $9.78 per share, for a total transaction of $1,043,437.98. Following the acquisition, the director owned 4,370,857 shares in the company, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.71% of the stock is owned by corporate insiders.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $9.66 on Monday. The company’s 50-day moving average price is $9.48 and its 200-day moving average price is $10.15. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. The company has a market cap of $996.53 million, a P/E ratio of 14.86 and a beta of 0.57. New Mountain Finance Corporation has a twelve month low of $8.84 and a twelve month high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $80.53 million during the quarter, compared to the consensus estimate of $83.91 million. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. New Mountain Finance’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, sell-side analysts forecast that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $1.28 dividend on an annualized basis and a yield of 13.3%. New Mountain Finance’s payout ratio is 196.92%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America restated an “underperform” rating and issued a $10.00 price objective (down from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. New Street Research set a $10.00 price target on shares of New Mountain Finance in a report on Friday, October 10th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Finally, Oppenheimer set a $11.00 target price on shares of New Mountain Finance and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $10.17.

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.