Hennion & Walsh Asset Management Inc. Decreases Position in New Mountain Finance Co. (NASDAQ:NMFC)

Hennion & Walsh Asset Management Inc. reduced its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 15.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,968 shares of the company’s stock after selling 17,637 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.09% of New Mountain Finance worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NMFC. Morton Brown Family Wealth LLC purchased a new position in shares of New Mountain Finance in the 4th quarter valued at $35,000. Barclays PLC acquired a new stake in shares of New Mountain Finance during the third quarter worth about $63,000. Beaumont Financial Advisors LLC purchased a new stake in shares of New Mountain Finance in the 4th quarter valued at about $130,000. Virtu Financial LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter valued at about $181,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of New Mountain Finance in the 3rd quarter valued at about $183,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Activity at New Mountain Finance

In related news, Director David Ogens acquired 3,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $12.62 per share, with a total value of $44,170.00. Following the transaction, the director now owns 166,391 shares of the company’s stock, valued at $2,099,854.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.34% of the stock is currently owned by insiders.

New Mountain Finance Trading Up 0.2 %

NMFC opened at $12.24 on Monday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 11.03 and a beta of 1.15. New Mountain Finance Co. has a 52 week low of $12.12 and a 52 week high of $13.23. The business’s 50 day moving average is $12.52 and its two-hundred day moving average is $12.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Wednesday, May 1st. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). New Mountain Finance had a net margin of 31.67% and a return on equity of 11.80%. The business had revenue of $90.56 million during the quarter, compared to analyst estimates of $90.08 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, research analysts predict that New Mountain Finance Co. will post 1.43 EPS for the current year.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.46%. The ex-dividend date was Friday, June 14th. New Mountain Finance’s dividend payout ratio is currently 115.32%.

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.