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WFA Asset Management Corp Buys 36,105 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

New Mountain Finance logo with Finance background

WFA Asset Management Corp grew its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC - Free Report) by 820.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,504 shares of the company's stock after buying an additional 36,105 shares during the period. WFA Asset Management Corp's holdings in New Mountain Finance were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NMFC. BNP Paribas Financial Markets boosted its stake in New Mountain Finance by 240.4% during the fourth quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock valued at $84,000 after buying an additional 5,288 shares during the period. Fox Run Management L.L.C. bought a new position in New Mountain Finance in the 4th quarter worth about $114,000. MQS Management LLC purchased a new stake in shares of New Mountain Finance in the 4th quarter valued at about $123,000. Larson Financial Group LLC boosted its position in shares of New Mountain Finance by 4,746.5% during 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 bought a new stake in shares of New Mountain Finance during the 4th quarter valued at about $147,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Price Performance

NASDAQ:NMFC traded down $0.01 during mid-day trading on Thursday, reaching $10.78. The stock had a trading volume of 289,378 shares, compared to its average volume of 468,845. The stock has a market capitalization of $1.16 billion, a P/E ratio of 10.27 and a beta of 0.80. The firm has a 50 day moving average price of $10.21 and a two-hundred day moving average price of $11.00. 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 Co. has a one year low of $8.84 and a one year high of $12.65.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm had revenue of $85.66 million during the quarter, compared to analyst estimates of $86.65 million. During the same period in the previous year, the business posted $0.36 EPS. The business's quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.87%. New Mountain Finance's dividend payout ratio (DPR) is currently 128.00%.

Analysts Set New Price Targets

NMFC has been the topic of several research analyst reports. Wells Fargo & Company decreased 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 report on Monday, April 28th. Keefe, Bruyette & Woods cut their price target on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, B. Riley began coverage on shares of New Mountain Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $11.00 price objective on the stock.

Read Our Latest Stock Analysis on New Mountain Finance

New Mountain Finance Profile

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

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