New Mountain Finance Co. (NASDAQ:NMFC) Stock Holdings Lifted by SVB Wealth LLC

SVB Wealth LLC grew its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 13.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,927 shares of the company’s stock after acquiring an additional 3,926 shares during the period. SVB Wealth LLC’s holdings in New Mountain Finance were worth $419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of New Mountain Finance during the 1st quarter valued at $29,000. Morton Brown Family Wealth LLC acquired a new stake in shares of New Mountain Finance during the 4th quarter valued at $35,000. Point72 Hong Kong Ltd acquired a new stake in New Mountain Finance during the 2nd quarter valued at $49,000. Barclays PLC acquired a new stake in New Mountain Finance during the 3rd quarter valued at $63,000. Finally, Harbour Investments Inc. raised its stake in New Mountain Finance by 141.0% during the 1st quarter. Harbour Investments Inc. now owns 5,583 shares of the company’s stock valued at $68,000 after purchasing an additional 3,266 shares during the period. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $12.55 on Monday. The company’s fifty day moving average is $12.60 and its two-hundred day moving average is $12.72. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.34. New Mountain Finance Co. has a 12-month low of $11.38 and a 12-month high of $13.23. The company has a market cap of $1.33 billion, a P/E ratio of 10.04 and a beta of 1.13.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. The business had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.03 million. During the same period in the prior year, the business posted $0.35 earnings per share. Equities analysts expect that New Mountain Finance Co. will post 1.53 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.47%. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 14th. New Mountain Finance’s dividend payout ratio is 102.40%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their target price on shares of New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

New Mountain Finance Company 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.