Keefe, Bruyette & Woods Issues Pessimistic Forecast for New Mountain Finance (NASDAQ:NMFC) Stock Price

New Mountain Finance (NASDAQ:NMFC) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $10.00 to $9.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 11.11% from the company’s current price.

A number of other research firms have also issued reports on NMFC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Wells Fargo & Company cut their target price on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Finally, B. Riley Financial cut their price objective on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, New Mountain Finance currently has an average rating of “Reduce” and an average price target of $9.25.

New Mountain Finance Stock Down 0.6%

New Mountain Finance stock opened at $8.10 on Wednesday. The firm has a market cap of $835.60 million, a price-to-earnings ratio of 54.00 and a beta of 0.59. The firm has a fifty day moving average price of $8.64 and a two-hundred day moving average price of $9.34. New Mountain Finance has a fifty-two week low of $7.52 and a fifty-two week high of $11.46. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16.

Insider Activity

In other New Mountain Finance news, COO Laura C. Holson Boswerger purchased 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $7.74 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer directly owned 81,030 shares of the company’s stock, valued at approximately $627,172.20. This trade represents a 18.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven B. Klinsky purchased 186,905 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were acquired at an average price of $8.17 per share, with a total value of $1,527,013.85. Following the purchase, the director owned 4,878,942 shares of the company’s stock, valued at approximately $39,860,956.14. This trade represents a 3.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 449,900 shares of company stock worth $3,612,694. 11.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On New Mountain Finance

A number of large investors have recently bought and sold shares of NMFC. MTM Investment Management LLC bought a new position in New Mountain Finance in the second quarter valued at about $38,000. State of Alaska Department of Revenue bought a new stake in New Mountain Finance during the 3rd quarter worth about $47,000. Huntington National Bank lifted its position in New Mountain Finance by 311.8% during the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after purchasing an additional 3,433 shares during the period. US Bancorp DE bought a new position in shares of New Mountain Finance in the 3rd quarter valued at about $48,000. Finally, Advisory Services Network LLC bought a new position in shares of New Mountain Finance in the 3rd quarter valued at about $65,000. 32.08% of the stock is currently owned by institutional investors.

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.