Keefe, Bruyette & Woods Analysts Give New Mountain Finance Corporation (NMFC) a $15.00 Price Target

Keefe, Bruyette & Woods set a $15.00 price objective on New Mountain Finance Corporation (NYSE:NMFC) in a report published on Thursday. The brokerage currently has a hold rating on the investment management company’s stock.

A number of other research analysts have also commented on the stock. BidaskClub lowered shares of New Mountain Finance Corporation from a hold rating to a sell rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of New Mountain Finance Corporation from a hold rating to a buy rating and set a $16.00 price target for the company in a research report on Wednesday, July 12th.

Shares of New Mountain Finance Corporation (NYSE NMFC) opened at 14.25 on Thursday. New Mountain Finance Corporation has a 12 month low of $13.05 and a 12 month high of $15.00. The company’s 50-day moving average price is $14.04 and its 200-day moving average price is $14.43.

New Mountain Finance Corporation (NYSE:NMFC) last issued its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. The business had revenue of $50.02 million for the quarter, compared to analysts’ expectations of $47.66 million. Equities research analysts anticipate that New Mountain Finance Corporation will post $1.36 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.54%. New Mountain Finance Corporation’s dividend payout ratio (DPR) is currently 86.62%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its position in shares of New Mountain Finance Corporation by 49.7% during the 1st quarter. Global X Management Co. LLC now owns 9,057 shares of the investment management company’s stock valued at $135,000 after purchasing an additional 3,007 shares in the last quarter. Airain ltd purchased a new position in shares of New Mountain Finance Corporation during the 2nd quarter valued at $149,000. Cetera Investment Advisers purchased a new position in shares of New Mountain Finance Corporation during the 2nd quarter valued at $153,000. Financial Counselors Inc. purchased a new position in shares of New Mountain Finance Corporation during the 2nd quarter valued at $155,000. Finally, Alliancebernstein L.P. purchased a new position in shares of New Mountain Finance Corporation during the 2nd quarter valued at $160,000. Hedge funds and other institutional investors own 40.71% of the company’s stock.

About New Mountain Finance Corporation

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

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