New Mountain Finance (NASDAQ:NMFC) Given New $7.50 Price Target at B. Riley Financial

New Mountain Finance (NASDAQ:NMFC) had its target price lowered by B. Riley Financial from $10.00 to $7.50 in a research note published on Tuesday,Benzinga reports. B. Riley Financial currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods decreased their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Wells Fargo & Company cut their price target on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.42.

New Mountain Finance Trading Up 2.6%

Shares of New Mountain Finance stock opened at $7.99 on Tuesday. The firm’s 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $9.36. The firm has a market capitalization of $824.25 million, a price-to-earnings ratio of 53.27 and a beta of 0.59. New Mountain Finance has a 12-month low of $7.52 and a 12-month high of $11.52. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given 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 16.0%. New Mountain Finance’s dividend payout ratio (DPR) is presently 853.33%.

Insider Transactions at New Mountain Finance

In other news, COO Laura C. Holson Boswerger purchased 12,500 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $7.74 per share, for a total transaction of $96,750.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.71% of the stock is currently owned by insiders.

Institutional Trading of New Mountain Finance

A number of institutional investors and hedge funds have recently bought and sold shares of NMFC. Mackenzie Financial Corp increased its holdings in shares of New Mountain Finance by 3.7% in the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after acquiring an additional 1,126 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in New Mountain Finance by 2.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after purchasing an additional 2,634 shares during the last quarter. Advyzon Investment Management LLC raised its holdings in New Mountain Finance by 25.3% during the fourth quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after purchasing an additional 3,246 shares in the last quarter. Huntington National Bank boosted its holdings in shares of New Mountain Finance by 311.8% in the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after buying an additional 3,433 shares in the last quarter. Finally, Next Capital Management LLC grew its position in shares of New Mountain Finance by 13.5% in the 4th quarter. Next Capital Management LLC now owns 29,680 shares of the company’s stock valued at $273,000 after buying an additional 3,530 shares during the last quarter. 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.