Wealthedge Investment Advisors LLC increased its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 183.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,878 shares of the company's stock after purchasing an additional 98,936 shares during the quarter. Wealthedge Investment Advisors LLC owned 0.14% of New Mountain Finance worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC boosted its stake in New Mountain Finance by 0.4% during the 1st quarter. Merit Financial Group LLC now owns 260,572 shares of the company's stock valued at $2,874,000 after acquiring an additional 1,052 shares during the last quarter. Vise Technologies Inc. boosted its stake in New Mountain Finance by 7.2% during the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock valued at $186,000 after acquiring an additional 1,110 shares during the last quarter. Lido Advisors LLC boosted its stake in New Mountain Finance by 2.7% during the 4th quarter. Lido Advisors LLC now owns 45,557 shares of the company's stock valued at $513,000 after acquiring an additional 1,199 shares during the last quarter. Sei Investments Co. boosted its stake in New Mountain Finance by 1.3% during the 1st quarter. Sei Investments Co. now owns 96,603 shares of the company's stock valued at $1,082,000 after acquiring an additional 1,254 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in New Mountain Finance by 7.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company's stock valued at $371,000 after acquiring an additional 2,450 shares during the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NMFC. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, B. Riley started coverage on shares of New Mountain Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective on the stock. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.75.
Read Our Latest Stock Analysis on New Mountain Finance
New Mountain Finance Stock Performance
NASDAQ:NMFC traded down $0.0350 during mid-day trading on Wednesday, hitting $10.3650. The stock had a trading volume of 91,589 shares, compared to its average volume of 470,395. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.65 and a beta of 0.82. The company has a 50 day simple moving average of $10.51 and a 200-day simple moving average of $10.68. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.44. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $83.49 million for the quarter, compared to the consensus estimate of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. During the same period last year, the firm posted $0.36 EPS. On average, research analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.32 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 annualized dividend and a yield of 12.3%. New Mountain Finance's dividend payout ratio (DPR) is currently 168.42%.
About New Mountain Finance
(
Free Report)
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.
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