Analysts Set New Mountain Finance Corporation (NASDAQ:NMFC) PT at $9.83

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have been assigned a consensus rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Two research 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 updated their coverage on the stock in the last year is $9.25.

Several research analysts recently issued reports on NMFC shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. B. Riley Financial cut their price objective 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. Wells Fargo & Company decreased their price objective on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Keefe, Bruyette & Woods lowered their target price on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th.

Insider Transactions at New Mountain Finance

In other news, COO Laura C. Holson Boswerger bought 12,500 shares of New Mountain Finance stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $7.74 per share, for a total transaction of $96,750.00. Following the purchase, the chief operating officer directly owned 81,030 shares of the company’s stock, valued at approximately $627,172.20. The trade was a 18.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its position 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 buying an additional 1,126 shares during the last quarter. Spire Wealth Management lifted its stake in New Mountain Finance by 4.0% during the 2nd quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock valued at $414,000 after acquiring an additional 1,500 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in New Mountain Finance by 2.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after acquiring an additional 2,634 shares during the period. Advyzon Investment Management LLC boosted its holdings in shares of New Mountain Finance by 25.3% in the 4th quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock valued at $148,000 after acquiring an additional 3,246 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of New Mountain Finance by 311.8% in the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares during the period. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $8.15 on Monday. The firm’s fifty day simple moving average is $8.66 and its two-hundred day simple moving average is $9.35. The firm has a market capitalization of $840.75 million, a P/E ratio of 54.33 and a beta of 0.59. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. New Mountain Finance has a 12-month low of $7.52 and a 12-month high of $11.46.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 15.7%. New Mountain Finance’s payout ratio is 853.33%.

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.