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

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have been assigned an average recommendation of “Reduce” from the seven research firms that are covering the company, MarketBeat.com 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 covered the stock in the last year is $9.25.

A number of research firms have issued reports on NMFC. Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. Wall Street Zen upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Wells Fargo & Company dropped 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 report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Tuesday.

Insider Activity

In other New Mountain Finance 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 shares were acquired at an average price of $7.74 per share, for a total transaction of $96,750.00. Following the acquisition, the chief operating officer owned 81,030 shares of the company’s stock, valued at $627,172.20. The trade was a 18.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven B. Klinsky bought 276,242 shares of the stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $8.05 per share, with a total value of $2,223,748.10. Following the purchase, the director owned 5,370,858 shares of the company’s stock, valued at approximately $43,235,406.90. This represents a 5.42% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 1,200,673 shares of company stock valued at $9,662,634. Company insiders own 14.90% of the company’s stock.

Institutional Trading of New Mountain Finance

Several large investors have recently bought and sold shares of NMFC. State of Alaska Department of Revenue acquired a new stake in New Mountain Finance during the 3rd quarter valued at $47,000. US Bancorp DE acquired a new stake in shares of New Mountain Finance during the third quarter valued at about $48,000. Advisory Services Network LLC purchased a new stake in shares of New Mountain Finance during the third quarter worth about $65,000. Sound Income Strategies LLC lifted its stake in shares of New Mountain Finance by 699.5% in the fourth quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock worth $70,000 after acquiring an additional 6,722 shares in the last quarter. Finally, United Capital Financial Advisors LLC acquired a new position in shares of New Mountain Finance in the third quarter worth about $97,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

Shares of NMFC stock opened at $8.06 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16. The firm has a market capitalization of $793.99 million, a price-to-earnings ratio of 53.73 and a beta of 0.54. New Mountain Finance has a one year low of $7.47 and a one year high of $11.04. The company has a 50 day moving average price of $8.00 and a 200 day moving average price of $8.81.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 15.9%. New Mountain Finance’s dividend payout ratio is presently 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.