Wealthedge Investment Advisors LLC Boosts Holdings in New Mountain Finance Corporation $NMFC

Key Points

• Wealthedge Investment Advisors LLC increased its stake in New Mountain Finance Corporation (NASDAQ: NMFC) by 183.4% during the first quarter, owning approximately 152,878 shares worth $1.69 million as per SEC filings.
• New Mountain Finance recently announced a quarterly dividend of $0.32 per share, representing an annualized yield of 12.4%, while its payout ratio stands at 168.42%.
• Analysts project that New Mountain Finance Corporation will report 1.39 earnings per share for the current fiscal year, maintaining a price target of $11.00 from Oppenheimer and B. Riley.

Wealthedge Investment Advisors LLC grew its holdings in shares of New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 183.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,878 shares of the company's stock after acquiring an additional 98,936 shares during the period. Wealthedge Investment Advisors LLC owned about 0.14% of New Mountain Finance worth $1,686,000 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 the business. Oppenheimer & Co. Inc. increased its position in shares of New Mountain Finance by 7.9% during the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company's stock worth $371,000 after acquiring an additional 2,450 shares during the period. ProShare Advisors LLC increased its position in shares of New Mountain Finance by 17.2% during the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company's stock worth $204,000 after acquiring an additional 2,664 shares during the period. Squarepoint Ops LLC increased its position in shares of New Mountain Finance by 179.7% during the fourth quarter. Squarepoint Ops LLC now owns 40,292 shares of the company's stock worth $454,000 after acquiring an additional 25,886 shares during the period. Jane Street Group LLC increased its position in shares of New Mountain Finance by 232.7% during the fourth quarter. Jane Street Group LLC now owns 104,285 shares of the company's stock worth $1,174,000 after acquiring an additional 72,944 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in New Mountain Finance by 161.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 124,989 shares of the company's stock valued at $1,407,000 after buying an additional 77,141 shares during the period. Institutional investors own 32.08% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NMFC. B. Riley assumed coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective on the stock. Oppenheimer set a $11.00 target price on shares of New Mountain Finance and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their target price on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th.

New Mountain Finance Trading Up 0.9%

NASDAQ:NMFC traded up $0.09 on Monday, hitting $10.39. The stock had a trading volume of 317,434 shares, compared to its average volume of 441,254. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 13.67 and a beta of 0.82. The company has a fifty day moving average price of $10.52 and a two-hundred day moving average price of $10.68. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.44.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The firm had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. During the same period in the prior year, the business posted $0.36 EPS. Equities research analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 12.3%. New Mountain Finance's dividend payout ratio is presently 168.42%.

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.