New Mountain Finance Corporation (NASDAQ:NMFC) Given Consensus Recommendation of “Reduce” by Brokerages

New Mountain Finance Corporation (NASDAQ:NMFC) has been given an average recommendation of “Reduce” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.25.

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Keefe, Bruyette & Woods reduced their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Zacks Research cut shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Finally, B. Riley Financial cut their target price on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a report on Tuesday, March 3rd.

New Mountain Finance Stock Performance

Shares of NMFC opened at $8.45 on Tuesday. The stock has a 50-day moving average of $8.01 and a two-hundred day moving average of $8.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16. The stock has a market cap of $831.92 million, a P/E ratio of 56.30 and a beta of 0.54. New Mountain Finance has a one year low of $7.47 and a one year high of $11.04.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 15.2%. The ex-dividend date was Tuesday, March 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 853.33%.

Insider Buying and Selling at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 276,242 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average price of $8.05 per share, for a total transaction of $2,223,748.10. Following the completion of the transaction, the director owned 5,370,858 shares in the company, valued at approximately $43,235,406.90. The trade was a 5.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam B. Weinstein bought 12,900 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average cost of $7.61 per share, for a total transaction of $98,169.00. Following the completion of the purchase, the executive vice president owned 751,756 shares in the company, valued at approximately $5,720,863.16. This represents a 1.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 1,200,673 shares of company stock valued at $9,662,634. Corporate insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds have recently bought and sold shares of NMFC. Mackenzie Financial Corp grew its holdings in New Mountain Finance by 3.7% in the third 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 period. CANADA LIFE ASSURANCE Co increased its position in shares of New Mountain Finance by 2.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after buying an additional 2,634 shares in the last quarter. Advyzon Investment Management LLC raised its stake in shares of New Mountain Finance by 25.3% during the 4th quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after buying an additional 3,246 shares during the period. Next Capital Management LLC lifted its position in shares of New Mountain Finance by 13.5% during the 4th quarter. Next Capital Management LLC now owns 29,680 shares of the company’s stock valued at $273,000 after buying an additional 3,530 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of New Mountain Finance by 8.5% during the 4th quarter. Inspire Investing LLC now owns 50,906 shares of the company’s stock valued at $469,000 after buying an additional 4,000 shares in 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.