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

New Mountain Finance Corporation (NASDAQ:NMFC) has been assigned an average rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $8.60.

NMFC has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of New Mountain Finance in a research report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th.

New Mountain Finance Stock Performance

Shares of New Mountain Finance stock opened at $7.56 on Monday. The business’s fifty day simple moving average is $7.23 and its 200 day simple moving average is $7.77. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.30. New Mountain Finance has a 12 month low of $6.73 and a 12 month high of $10.71. The firm has a market capitalization of $714.04 million, a P/E ratio of -16.09 and a beta of 0.55.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%.The firm had revenue of $39.02 million during the quarter, compared to the consensus estimate of $62.78 million. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, analysts anticipate that New Mountain Finance will post 1.1 EPS for the current year.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Wednesday, September 16th. New Mountain Finance’s payout ratio is -212.77%.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors have recently bought and sold shares of the company. Rivernorth Capital Management LLC purchased a new position in shares of New Mountain Finance during the 4th quarter valued at $12,326,000. Corient Private Wealth LLC purchased a new stake in New Mountain Finance in the 4th quarter worth about $7,450,000. Closed End Fund Advisors Inc. purchased a new stake in New Mountain Finance in the 4th quarter worth about $5,398,000. Truffle Hound Capital LLC bought a new stake in New Mountain Finance in the 4th quarter valued at about $5,066,000. Finally, JPMorgan Chase & Co. lifted its holdings in New Mountain Finance by 27.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after purchasing an additional 443,016 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

About New Mountain Finance

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.