New Mountain Finance (NMFC) Downgraded by ValuEngine

ValuEngine lowered shares of New Mountain Finance (NYSE:NMFC) from a hold rating to a sell rating in a report issued on Monday morning.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of New Mountain Finance from a sell rating to a hold rating in a research report on Wednesday, July 11th. TheStreet upgraded shares of New Mountain Finance from a c+ rating to a b rating in a research report on Friday, August 10th.

NMFC opened at $13.55 on Monday. The firm has a market cap of $1.03 billion, a PE ratio of 9.96 and a beta of 0.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.04. New Mountain Finance has a one year low of $12.05 and a one year high of $14.50.

New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Tuesday, August 7th. The investment management company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.10 million. New Mountain Finance had a net margin of 46.52% and a return on equity of 10.11%. sell-side analysts forecast that New Mountain Finance will post 1.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.04%. The ex-dividend date is Thursday, September 13th. New Mountain Finance’s dividend payout ratio is currently 105.43%.

In related news, insider John Kline acquired 17,250 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was bought at an average cost of $13.77 per share, with a total value of $237,532.50. Following the acquisition, the insider now owns 81,030 shares of the company’s stock, valued at approximately $1,115,783.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Hamwee acquired 15,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $13.70 per share, with a total value of $205,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 326,733 shares in the company, valued at approximately $4,476,242.10. The disclosure for this purchase can be found here. Insiders have bought a total of 48,250 shares of company stock valued at $662,833 over the last ninety days. 10.27% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Castle Rock Wealth Management LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter worth $139,000. Comerica Bank bought a new stake in New Mountain Finance in the second quarter worth $144,000. Arete Wealth Advisors LLC bought a new stake in New Mountain Finance in the first quarter worth $138,000. Tocqueville Asset Management L.P. bought a new stake in New Mountain Finance in the second quarter worth $162,000. Finally, Cullen Frost Bankers Inc. bought a new stake in New Mountain Finance in the first quarter worth $163,000. 36.99% of the stock is owned by institutional investors.

New Mountain Finance Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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