New Mountain Finance (NASDAQ:NMFC) Upgraded by Wall Street Zen to Hold Rating

New Mountain Finance (NASDAQ:NMFC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut their target price on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 4th. Zacks Research lowered New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Wells Fargo & Company decreased their target price on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, B. Riley Financial cut their price target on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, New Mountain Finance has an average rating of “Reduce” and a consensus price target of $9.25.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $7.94 on Friday. The firm’s 50 day moving average is $8.07 and its 200 day moving average is $8.95. New Mountain Finance has a 12 month low of $7.47 and a 12 month high of $11.04. The stock has a market capitalization of $782.17 million, a PE ratio of 52.93 and a beta of 0.54. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41.

Insider Buying and Selling

In other New Mountain Finance news, EVP Adam B. Weinstein acquired 12,900 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were acquired at an average price of $7.61 per share, for a total transaction of $98,169.00. Following the completion of the acquisition, the executive vice president owned 751,756 shares in the company, valued at $5,720,863.16. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Klinsky acquired 276,242 shares of the stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $8.05 per share, with a total value of $2,223,748.10. Following the purchase, the director directly owned 5,370,858 shares of the company’s stock, valued at $43,235,406.90. The trade was a 5.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,200,673 shares of company stock valued at $9,662,634 over the last quarter. Corporate insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in New Mountain Finance during the 3rd quarter valued at about $47,000. US Bancorp DE bought a new position in shares of New Mountain Finance in the third quarter worth approximately $48,000. Advisory Services Network LLC purchased a new stake in shares of New Mountain Finance during the third quarter valued at approximately $65,000. Sound Income Strategies LLC increased its position in shares of New Mountain Finance by 699.5% during the fourth quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock valued at $70,000 after acquiring an additional 6,722 shares in the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in New Mountain Finance in the 4th quarter worth approximately $94,000. Institutional investors own 32.08% of the company’s stock.

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.