Sigma Planning Corp Cuts Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Sigma Planning Corp trimmed its holdings in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 59.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,197 shares of the company’s stock after selling 48,272 shares during the period. Sigma Planning Corp’s holdings in New Mountain Finance were worth $422,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WFA Asset Management Corp grew its holdings in shares of New Mountain Finance by 2.5% in the 4th quarter. WFA Asset Management Corp now owns 44,149 shares of the company’s stock worth $562,000 after acquiring an additional 1,057 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $130,000. SVB Wealth LLC grew its holdings in shares of New Mountain Finance by 13.5% in the 4th quarter. SVB Wealth LLC now owns 32,927 shares of the company’s stock worth $419,000 after acquiring an additional 3,926 shares during the period. Oak Family Advisors LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $689,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $382,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Price Performance

NMFC stock opened at $12.72 on Friday. New Mountain Finance Co. has a 52-week low of $11.38 and a 52-week high of $13.23. The stock’s fifty day simple moving average is $12.60 and its 200-day simple 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. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.18 and a beta of 1.13.

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

New Mountain Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.36 per share. 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. This represents a $1.44 annualized dividend and a dividend yield of 11.32%. New Mountain Finance’s dividend payout ratio (DPR) is 102.40%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th.

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.