Brokerages Set New Mountain Finance Corporation (NASDAQ:NMFC) PT at $9.25

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.25.

A number of equities analysts have issued reports on the company. Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Wells Fargo & Company reduced their target price on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Wall Street Zen upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Weiss Ratings cut New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, B. Riley Financial reduced their target price on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd.

New Mountain Finance Stock Performance

Shares of NASDAQ:NMFC opened at $7.95 on Wednesday. The business has a fifty day moving average of $8.11 and a 200-day moving average of $8.49. The firm has a market cap of $750.88 million, a PE ratio of -13.71 and a beta of 0.54. New Mountain Finance has a twelve month low of $7.47 and a twelve month high of $10.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $41.27 million for the quarter, compared to analysts’ expectations of $67.76 million. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The firm’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. On average, equities research analysts predict that New Mountain Finance will post 1.11 EPS for the current fiscal year.

New Mountain Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.6%. New Mountain Finance’s dividend payout ratio (DPR) is currently -220.69%.

Insider Activity at New Mountain Finance

In other New Mountain Finance news, EVP Adam B. Weinstein purchased 12,900 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $7.61 per share, with a total value of $98,169.00. Following the completion of the transaction, the executive vice president directly owned 751,756 shares in the company, valued at $5,720,863.16. This trade represents a 1.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in New Mountain Finance by 3.7% during the third quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock worth $302,000 after acquiring an additional 1,126 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in New Mountain Finance by 2.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock worth $1,013,000 after acquiring an additional 2,634 shares during the period. Advyzon Investment Management LLC lifted its holdings in New Mountain Finance by 25.3% during the fourth quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after acquiring an additional 3,246 shares during the period. Next Capital Management LLC lifted its holdings in New Mountain Finance by 13.5% during the fourth quarter. Next Capital Management LLC now owns 29,680 shares of the company’s stock worth $273,000 after acquiring an additional 3,530 shares during the period. Finally, Inspire Investing LLC lifted its holdings in New Mountain Finance by 8.5% during the fourth quarter. Inspire Investing LLC now owns 50,906 shares of the company’s stock worth $469,000 after acquiring an additional 4,000 shares during the period. 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.