New Mountain Finance (NASDAQ:NMFC) Price Target Cut to $8.00 by Analysts at Keefe, Bruyette & Woods

New Mountain Finance (NASDAQ:NMFC) had its price target cut by Keefe, Bruyette & Woods from $9.00 to $8.00 in a report released on Monday,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts also recently commented on the stock. Wall Street Zen raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Weiss Ratings downgraded shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Finally, Zacks Research raised shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $9.08.

New Mountain Finance Stock Down 1.5%

Shares of New Mountain Finance stock opened at $7.00 on Monday. The stock’s 50-day moving average is $7.54 and its 200 day moving average is $8.06. New Mountain Finance has a one year low of $6.80 and a one year high of $10.77. The firm has a market cap of $661.15 million, a price-to-earnings ratio of -12.07 and a beta of 0.55. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.02 and a quick ratio of 2.02.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Monday, May 4th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The business had revenue of $41.27 million during the quarter, compared to the consensus estimate of $67.76 million. During the same period in the previous year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was down 19.7% on a year-over-year basis. Equities research analysts anticipate that New Mountain Finance will post 1.11 EPS for the current year.

New Mountain Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.25 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 14.3%. New Mountain Finance’s dividend payout ratio is presently -172.41%.

Institutional Investors Weigh In On New Mountain Finance

Several hedge funds and other institutional investors have recently modified their holdings of NMFC. Rivernorth Capital Management LLC acquired a new stake in New Mountain Finance in the 4th quarter valued at $12,326,000. Corient Private Wealth LLC acquired a new position in New Mountain Finance during the fourth quarter worth $7,450,000. Closed End Fund Advisors Inc. acquired a new position in New Mountain Finance during the fourth quarter worth $5,398,000. Truffle Hound Capital LLC bought a new position in shares of New Mountain Finance in the fourth quarter valued at $5,066,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of New Mountain Finance by 27.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after buying an additional 443,016 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

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.