New Mountain Finance Corporation (NASDAQ:NMFC) Receives $9.25 Consensus PT from Brokerages

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have been assigned an average recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.25.

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Wall Street Zen downgraded New Mountain Finance from a “hold” rating to a “sell” rating in a report on Saturday. B. Riley Financial lowered their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Finally, 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 research note on Thursday, February 26th.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $7.50 on Friday. The firm has a market capitalization of $773.70 million, a P/E ratio of 50.00 and a beta of 0.59. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $8.20 and a 200 day moving average of $9.02. New Mountain Finance has a 52 week low of $7.47 and a 52 week high of $11.20.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.28 annualized dividend and a yield of 17.1%. New Mountain Finance’s payout ratio is 853.33%.

Insider Buying and Selling at New Mountain Finance

In related news, EVP Adam B. Weinstein acquired 12,900 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $7.61 per share, for a total transaction of $98,169.00. Following the acquisition, the executive vice president owned 751,756 shares of the company’s stock, valued at $5,720,863.16. This trade represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Laura C. Holson Boswerger bought 12,500 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer owned 81,030 shares in the company, valued at approximately $627,172.20. This trade represents a 18.24% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 1,200,673 shares of company stock valued at $9,662,634. 11.71% of the stock is currently owned by company insiders.

Institutional Trading of New Mountain Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of New Mountain Finance by 218.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,312 shares of the company’s stock worth $141,000 after acquiring an additional 10,503 shares during the period. Fund Advisors of America Inc FL bought a new position in New Mountain Finance in the fourth quarter worth $198,000. Corient Private Wealth LLC bought a new position in New Mountain Finance in the fourth quarter worth $7,450,000. Virtu Financial LLC lifted its position in New Mountain Finance by 66.9% during the fourth quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock valued at $202,000 after buying an additional 8,785 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in New Mountain Finance during the fourth quarter valued at $146,000. 32.08% of the stock is currently owned by hedge funds and other 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.