Y Intercept Hong Kong Ltd Has $630,000 Stock Position in New Mountain Finance Corporation (NASDAQ:NMFC)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in New Mountain Finance Corporation by 45.1% in the first quarter, now holding just 57,096 shares valued at approximately $630,000.
• Several institutional investors have increased their holdings in New Mountain Finance, including Merit Financial Group LLC and Oppenheimer & Co. Inc., which raised their stakes by 0.4% and 7.9%, respectively.
• New Mountain Finance's stock price has fluctuated, with a latest price of $10.59 and shares exhibiting a low of $8.84 and a high of $12.55 over the past year.

Y Intercept Hong Kong Ltd trimmed its position in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 45.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,096 shares of the company's stock after selling 46,825 shares during the period. Y Intercept Hong Kong Ltd owned 0.05% of New Mountain Finance worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of New Mountain Finance by 240.4% in the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock worth $84,000 after buying an additional 5,288 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of New Mountain Finance in the 4th quarter worth about $114,000. XTX Topco Ltd bought a new position in shares of New Mountain Finance in the 4th quarter worth about $148,000. Vise Technologies Inc. lifted its position in shares of New Mountain Finance by 7.2% in the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company's stock worth $186,000 after buying an additional 1,110 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of New Mountain Finance in the 4th quarter worth about $200,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

New Mountain Finance Price Performance

Shares of NMFC stock traded down $0.04 during midday trading on Wednesday, reaching $10.54. 377,605 shares of the company were exchanged, compared to its average volume of 315,301. New Mountain Finance Corporation has a 12 month low of $8.84 and a 12 month high of $12.55. The company has a market cap of $1.14 billion, a P/E ratio of 10.54 and a beta of 0.80. The company's 50 day moving average price is $10.62 and its two-hundred day moving average price is $10.79. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.22 and a current ratio of 2.22.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. New Mountain Finance had a net margin of 29.84% and a return on equity of 10.57%. The company had revenue of $85.66 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the firm earned $0.36 EPS. New Mountain Finance's revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance 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.