Brokerages Set New Mountain Finance Corporation (NASDAQ:NMFC) PT at $10.17

New Mountain Finance Corporation (NASDAQ:NMFC) has been assigned a consensus recommendation of “Reduce” from the seven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.1667.

NMFC has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. New Street Research set a $10.00 target price on shares of New Mountain Finance in a research report on Friday, October 10th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, B. Riley restated a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $9.07 on Friday. The company has a fifty day moving average price of $9.39 and a 200 day moving average price of $9.87. The firm has a market cap of $935.66 million, a PE ratio of 13.95 and a beta of 0.58. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance has a 1-year low of $8.84 and a 1-year high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $80.53 million for the quarter, compared to the consensus estimate of $83.91 million. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. Research analysts predict that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.28 annualized dividend and a yield of 14.1%. New Mountain Finance’s dividend payout ratio is 196.92%.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of New Mountain Finance by 36.9% in the first quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock valued at $7,843,000 after buying an additional 191,518 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of New Mountain Finance by 2.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after acquiring an additional 1,359 shares during the period. Arlington Capital Management Inc. acquired a new position in shares of New Mountain Finance during the 2nd quarter worth about $947,000. GraniteShares Advisors LLC raised its holdings in shares of New Mountain Finance by 6.7% in the 2nd quarter. GraniteShares Advisors LLC now owns 248,003 shares of the company’s stock valued at $2,616,000 after purchasing an additional 15,499 shares during the period. Finally, Union Bancaire Privee UBP SA lifted its stake in New Mountain Finance by 5.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock valued at $304,000 after purchasing an additional 1,393 shares during the last quarter. 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.