Van ECK Associates Corp Increases Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Van ECK Associates Corp raised its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,562,437 shares of the company’s stock after acquiring an additional 156,652 shares during the quarter. Van ECK Associates Corp owned approximately 1.54% of New Mountain Finance worth $19,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NMFC. Morton Brown Family Wealth LLC purchased a new stake in New Mountain Finance in the 4th quarter worth approximately $35,000. Barclays PLC bought a new position in shares of New Mountain Finance in the third quarter worth approximately $63,000. Beaumont Financial Advisors LLC bought a new stake in shares of New Mountain Finance during the 4th quarter valued at $130,000. Nisa Investment Advisors LLC purchased a new position in shares of New Mountain Finance during the 3rd quarter valued at $133,000. Finally, DAVENPORT & Co LLC purchased a new position in shares of New Mountain Finance during the 3rd quarter valued at $177,000. Institutional investors own 32.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their price target on New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th.

New Mountain Finance Stock Up 0.9 %

NASDAQ NMFC opened at $12.68 on Thursday. The stock has a market cap of $1.35 billion, a PE ratio of 10.14 and a beta of 1.11. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.34. New Mountain Finance Co. has a 12 month low of $11.38 and a 12 month high of $13.23. The stock’s 50 day moving average is $12.60 and its 200 day moving average is $12.71.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. The company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.03 million. During the same period last year, the company posted $0.35 earnings per share. Research analysts predict that New Mountain Finance Co. will post 1.53 EPS for the current fiscal year.

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.