New Mountain Finance Corp. (NMFC) Receives Average Recommendation of “Hold” from Analysts
New Mountain Finance Corp. (NYSE:NMFC) has earned an average recommendation of “Hold” from the six research firms that are covering the company. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.50.
Several brokerages have recently issued reports on NMFC. Robert W. Baird cut New Mountain Finance Corp. from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, July 14th. Zacks Investment Research cut New Mountain Finance Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. raised their price objective on New Mountain Finance Corp. from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th.
New Mountain Finance Corp. (NYSE:NMFC) traded up 0.15% during trading on Thursday, hitting $13.80. 113,686 shares of the stock traded hands. The company’s 50 day moving average is $13.88 and its 200 day moving average is $13.09. New Mountain Finance Corp. has a one year low of $10.87 and a one year high of $14.30.
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New Mountain Finance Corp. (NYSE:NMFC) last issued its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. On average, analysts expect that New Mountain Finance Corp. will post $1.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend was Wednesday, September 14th.
In related news, Director David Malpass sold 85,000 shares of New Mountain Finance Corp. stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $1,190,000.00. Following the completion of the transaction, the director now directly owns 101,924 shares in the company, valued at $1,426,936. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp acquired a new stake in New Mountain Finance Corp. during the second quarter worth approximately $472,000. Guggenheim Capital LLC boosted its stake in New Mountain Finance Corp. by 22.9% in the second quarter. Guggenheim Capital LLC now owns 377,405 shares of the investment management company’s stock worth $4,869,000 after buying an additional 70,288 shares during the period. Zacks Investment Management acquired a new stake in New Mountain Finance Corp. during the second quarter worth approximately $217,000. Clinton Group Inc. boosted its stake in New Mountain Finance Corp. by 63.8% in the second quarter. Clinton Group Inc. now owns 22,612 shares of the investment management company’s stock worth $292,000 after buying an additional 8,810 shares during the period. Finally, Van ECK Associates Corp boosted its stake in New Mountain Finance Corp. by 18.9% in the second quarter. Van ECK Associates Corp now owns 242,159 shares of the investment management company’s stock worth $3,124,000 after buying an additional 38,493 shares during the period.
New Mountain Finance Corp. 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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