WFA Asset Management Corp Boosts Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

WFA Asset Management Corp raised its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 820.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,504 shares of the company’s stock after purchasing an additional 36,105 shares during the period. WFA Asset Management Corp’s holdings in New Mountain Finance were worth $447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in New Mountain Finance by 240.4% in the fourth quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company’s stock worth $84,000 after purchasing an additional 5,288 shares in the last quarter. Fox Run Management L.L.C. bought a new position in New Mountain Finance during the 4th quarter worth approximately $114,000. MQS Management LLC acquired a new position in shares of New Mountain Finance in the 4th quarter worth approximately $123,000. Larson Financial Group LLC increased its holdings in shares of New Mountain Finance by 4,746.5% in the 4th quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock valued at $123,000 after acquiring an additional 10,727 shares during the last quarter. Finally, New World Advisors LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $147,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Stock Performance

Shares of NASDAQ NMFC opened at $10.77 on Monday. New Mountain Finance Co. has a 1 year low of $8.84 and a 1 year high of $12.65. The firm has a market cap of $1.16 billion, a P/E ratio of 10.26 and a beta of 0.80. The stock has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $11.01. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $85.66 million during the quarter, compared to the consensus estimate of $86.65 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. Research analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.88%. The ex-dividend date is Monday, June 16th. New Mountain Finance’s dividend payout ratio (DPR) is currently 128.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NMFC. B. Riley started coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They issued a “neutral” rating and a $11.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th.

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.