Wells Fargo & Company MN Has $93.66 Million Position in New Mountain Finance Corporation (NMFC)

Wells Fargo & Company MN lessened its position in shares of New Mountain Finance Corporation (NYSE:NMFC) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,437,037 shares of the investment management company’s stock after selling 45,777 shares during the period. Wells Fargo & Company MN owned 8.52% of New Mountain Finance Corporation worth $93,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. raised its stake in New Mountain Finance Corporation by 0.8% during the first quarter. Oppenheimer & Co. Inc. now owns 15,535 shares of the investment management company’s stock worth $231,000 after buying an additional 125 shares during the last quarter. Green Square Capital LLC raised its stake in New Mountain Finance Corporation by 1.6% during the first quarter. Green Square Capital LLC now owns 24,994 shares of the investment management company’s stock worth $372,000 after buying an additional 401 shares during the last quarter. CWA Asset Management Group LLC raised its stake in New Mountain Finance Corporation by 4.3% during the first quarter. CWA Asset Management Group LLC now owns 18,350 shares of the investment management company’s stock worth $273,000 after buying an additional 750 shares during the last quarter. Rothschild Investment Corp IL raised its stake in New Mountain Finance Corporation by 4.5% during the second quarter. Rothschild Investment Corp IL now owns 34,544 shares of the investment management company’s stock worth $503,000 after buying an additional 1,500 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in New Mountain Finance Corporation by 9.8% during the first quarter. Tudor Investment Corp ET AL now owns 26,961 shares of the investment management company’s stock worth $402,000 after buying an additional 2,410 shares during the last quarter. 40.80% of the stock is owned by institutional investors and hedge funds.

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Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at 14.05 on Wednesday. The firm has a 50-day moving average of $14.27 and a 200 day moving average of $14.53. New Mountain Finance Corporation has a 1-year low of $13.05 and a 1-year high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last released its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $50.02 million during the quarter, compared to analyst estimates of $47.66 million. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. On average, analysts predict that New Mountain Finance Corporation will post $1.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.68%. The ex-dividend date of this dividend is Thursday, September 14th. New Mountain Finance Corporation’s payout ratio is 86.62%.

NMFC has been the subject of several research analyst reports. Keefe, Bruyette & Woods set a $15.00 price target on shares of New Mountain Finance Corporation and gave the company a “hold” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of New Mountain Finance Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, BidaskClub downgraded shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th.

New Mountain Finance Corporation Company Profile

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

Institutional Ownership by Quarter for New Mountain Finance Corporation (NYSE:NMFC)

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