Hennion & Walsh Asset Management Inc. Has $2.86 Million Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Hennion & Walsh Asset Management Inc. grew its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,181 shares of the company's stock after acquiring an additional 60,732 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.24% of New Mountain Finance worth $2,862,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Cerity Partners LLC increased its holdings in New Mountain Finance by 2.7% in the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company's stock worth $45,811,000 after buying an additional 100,315 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of New Mountain Finance by 8.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company's stock worth $25,980,000 after purchasing an additional 168,719 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of New Mountain Finance during the 3rd quarter worth $375,000. HighTower Advisors LLC raised its holdings in shares of New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company's stock valued at $40,438,000 after purchasing an additional 237,594 shares in the last quarter. Finally, First National Trust Co lifted its stake in shares of New Mountain Finance by 101.1% in the 3rd quarter. First National Trust Co now owns 160,005 shares of the company's stock valued at $1,917,000 after purchasing an additional 80,451 shares during the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Mountain Finance

In related news, Director Steven B. Klinsky bought 150,609 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the transaction, the director now owns 3,632,326 shares of the company's stock, valued at $39,483,383.62. The trade was a 4.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Kline purchased 41,550 shares of New Mountain Finance stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the acquisition, the chief executive officer now owns 351,783 shares in the company, valued at approximately $3,841,470.36. This trade represents a 13.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 324,530 shares of company stock worth $3,603,675. Company insiders own 10.22% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their target price on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th.

New Mountain Finance Stock Performance

NMFC traded up $0.05 on Friday, hitting $11.27. The company had a trading volume of 295,527 shares, compared to its average volume of 376,375. New Mountain Finance Co. has a 1-year low of $10.61 and a 1-year high of $13.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company's fifty day moving average price is $11.45 and its 200 day moving average price is $11.81. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 10.73 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $95.33 million for the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Equities analysts predict that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.33 dividend. This is an increase from New Mountain Finance's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 11.71%. The ex-dividend date of this dividend was Tuesday, December 17th. New Mountain Finance's dividend payout ratio (DPR) is currently 121.90%.

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.