Wedbush Securities Inc. Has $473,000 Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Wedbush Securities Inc. reduced its stake in New Mountain Finance Co. (NASDAQ:NMFC) by 46.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,661 shares of the company’s stock after selling 33,598 shares during the quarter. Wedbush Securities Inc.’s holdings in New Mountain Finance were worth $473,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of New Mountain Finance by 8.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 154,108 shares of the company’s stock valued at $1,960,000 after purchasing an additional 12,025 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in New Mountain Finance by 12.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 117,694 shares of the company’s stock worth $1,497,000 after acquiring an additional 12,625 shares during the period. Focus Financial Network Inc. ADV acquired a new position in New Mountain Finance during the 4th quarter worth $4,135,000. Condor Capital Management lifted its position in New Mountain Finance by 8.7% during the 4th quarter. Condor Capital Management now owns 247,765 shares of the company’s stock worth $3,152,000 after acquiring an additional 19,813 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC boosted its holdings in New Mountain Finance by 176.0% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 183,712 shares of the company’s stock valued at $2,337,000 after acquiring an additional 117,153 shares during the period. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Up 0.7 %

Shares of NMFC stock opened at $12.31 on Friday. New Mountain Finance Co. has a 12 month low of $11.60 and a 12 month high of $13.23. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.40. The firm has a market cap of $1.33 billion, a PE ratio of 11.09 and a beta of 1.14. The stock has a 50 day moving average of $12.25 and a 200-day moving average of $12.44.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. The business had revenue of $94.59 million for the quarter, compared to analyst estimates of $90.25 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts predict that New Mountain Finance Co. will post 1.41 EPS for the current year.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.40%. The ex-dividend date is Monday, September 16th. New Mountain Finance’s dividend payout ratio is currently 115.32%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price objective on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd.

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.