New Mountain Finance Corporation (NASDAQ:NMFC) Given Average Rating of “Reduce” by Analysts

New Mountain Finance Corporation (NASDAQ:NMFC) has been given a consensus rating of “Reduce” by the seven analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.1667.

Several research firms recently commented on NMFC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Bank of America restated an “underperform” rating and set a $10.00 price target (down from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $10.00 price target (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th.

Institutional Trading of New Mountain Finance

Several large investors have recently modified their holdings of the business. Mackenzie Financial Corp raised its position in New Mountain Finance by 3.7% during the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after purchasing an additional 1,126 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of New Mountain Finance by 3.8% during the second quarter. International Assets Investment Management LLC now owns 32,438 shares of the company’s stock valued at $342,000 after buying an additional 1,179 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of New Mountain Finance by 2.9% during the second quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after acquiring an additional 1,359 shares in the last quarter. Union Bancaire Privee UBP SA lifted its stake in New Mountain Finance by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock worth $304,000 after acquiring an additional 1,393 shares during the period. Finally, Spire Wealth Management increased its position in New Mountain Finance by 4.0% during the 2nd quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock valued at $414,000 after purchasing an additional 1,500 shares during the period. 32.08% of the stock is owned by institutional investors.

New Mountain Finance Stock Performance

Shares of NASDAQ NMFC opened at $9.23 on Friday. The stock’s 50-day moving average is $9.41 and its 200 day moving average is $9.89. The stock has a market cap of $952.17 million, a price-to-earnings ratio of 14.20 and a beta of 0.58. New Mountain Finance has a 1-year low of $8.84 and a 1-year high of $12.05. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $80.53 million for the quarter, compared to analysts’ expectations of $83.91 million. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. On average, sell-side analysts anticipate that New Mountain Finance will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.28 annualized dividend and a yield of 13.9%. New Mountain Finance’s dividend payout ratio is presently 196.92%.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.