Wealthedge Investment Advisors LLC Sells 12,985 Shares of New Mountain Finance Corporation $NMFC

Wealthedge Investment Advisors LLC reduced its stake in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,893 shares of the company’s stock after selling 12,985 shares during the quarter. Wealthedge Investment Advisors LLC owned approximately 0.13% of New Mountain Finance worth $1,476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of New Mountain Finance by 3.8% during the second quarter. International Assets Investment Management LLC now owns 32,438 shares of the company’s stock valued at $342,000 after buying an additional 1,179 shares during the last quarter. Sei Investments Co. raised its stake in shares of New Mountain Finance by 1.3% during the 1st quarter. Sei Investments Co. now owns 96,603 shares of the company’s stock worth $1,082,000 after acquiring an additional 1,254 shares in the last quarter. Farther Finance Advisors LLC lifted its position in New Mountain Finance by 2.9% during the second quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after acquiring an additional 1,359 shares during the last quarter. Union Bancaire Privee UBP SA boosted its stake in New Mountain Finance by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock valued at $304,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in New Mountain Finance by 4.0% in the second quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock worth $414,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NMFC. New Street Research set a $10.00 price objective on New Mountain Finance in a report on Friday, October 10th. B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Bank of America restated an “underperform” rating and set a $10.00 price objective (down previously from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $10.17.

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, EVP Adam B. Weinstein bought 49,750 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 652,490 shares of the company’s stock, valued at approximately $6,544,474.70. This trade represents a 8.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven B. Klinsky purchased 106,691 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were bought at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the transaction, the director directly owned 4,370,857 shares in the company, valued at $42,746,981.46. This trade represents a 2.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 11.71% of the company’s stock.

New Mountain Finance Trading Up 0.5%

New Mountain Finance stock opened at $9.66 on Monday. The stock has a 50-day moving average price of $9.48 and a 200 day moving average price of $10.15. The company has a market capitalization of $996.53 million, a price-to-earnings ratio of 14.86 and a beta of 0.57. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.05. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40.

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

New Mountain Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend is Wednesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is 196.92%.

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.