New Mountain Finance Corp. (NMFC) Stake Lifted by Wedbush Securities Inc.
Wedbush Securities Inc. grew its holdings in New Mountain Finance Corp. (NYSE:NMFC) by 52.0% during the first quarter, Holdings Channel reports. The fund owned 55,230 shares of the investment management company’s stock after purchasing an additional 18,905 shares during the period. Wedbush Securities Inc.’s holdings in New Mountain Finance were worth $749,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NMFC. Parallel Advisors LLC purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $58,000. IFP Advisors Inc increased its holdings in shares of New Mountain Finance by 39.5% in the 4th quarter. IFP Advisors Inc now owns 12,856 shares of the investment management company’s stock valued at $163,000 after acquiring an additional 3,642 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $175,000. Squarepoint Ops LLC purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $181,000. Finally, Wambolt & Associates LLC purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $194,000. Institutional investors and hedge funds own 33.82% of the company’s stock.
A number of research firms have recently commented on NMFC. TheStreet upgraded New Mountain Finance from a “c” rating to a “b-” rating in a report on Friday, March 1st. Zacks Investment Research downgraded New Mountain Finance from a “buy” rating to a “hold” rating in a report on Saturday, January 12th.
New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Wednesday, February 27th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $63.51 million for the quarter, compared to the consensus estimate of $60.02 million. New Mountain Finance had a return on equity of 10.33% and a net margin of 31.26%. On average, research analysts expect that New Mountain Finance Corp. will post 1.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.36 dividend on an annualized basis and a yield of 9.89%. New Mountain Finance’s dividend payout ratio is presently 98.55%.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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