New Mountain Finance Co. (NASDAQ:NMFC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,562,437 shares of the company’s stock after buying an additional 156,652 shares during the quarter. Van ECK Associates Corp’s holdings in New Mountain Finance were worth $19,875,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

New Mountain Finance Stock Up 0.9 %

Shares of New Mountain Finance stock opened at $12.68 on Thursday. The company has a market cap of $1.35 billion, a P/E ratio of 10.14 and a beta of 1.11. The firm has a fifty day moving average of $12.60 and a two-hundred day moving average of $12.71. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.92 and a current ratio of 2.92. New Mountain Finance Co. has a one year low of $11.38 and a one year high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, February 26th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.03 million. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts forecast that New Mountain Finance Co. will post 1.53 earnings per share for the current year.

New Mountain Finance Company 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.