New Mountain Finance (NASDAQ:NMFC) Stock Rating Upgraded by Wall Street Zen

New Mountain Finance (NASDAQ:NMFC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

NMFC has been the subject of a number of other research reports. B. Riley Financial decreased their target price 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, March 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Zacks Research cut shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods lowered their target price on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company cut their price target on shares of 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. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.25.

New Mountain Finance Stock Performance

Shares of NASDAQ:NMFC opened at $7.94 on Friday. The company’s 50 day simple moving average is $8.07 and its 200 day simple moving average is $8.95. New Mountain Finance has a 1 year low of $7.47 and a 1 year high of $11.04. The stock has a market capitalization of $782.17 million, a price-to-earnings ratio of 52.93 and a beta of 0.54. 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 Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky purchased 276,242 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of $8.05 per share, with a total value of $2,223,748.10. Following the transaction, the director owned 5,370,858 shares in the company, valued at $43,235,406.90. The trade was a 5.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Laura C. Holson Boswerger bought 12,500 shares of the stock in a transaction dated 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 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 1,200,673 shares of company stock valued at $9,662,634. Corporate insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Several hedge funds have recently modified their holdings of the company. LSV Asset Management grew its holdings in shares of New Mountain Finance by 13.4% in the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock valued at $27,508,000 after acquiring an additional 353,062 shares in the last quarter. Van ECK Associates Corp grew its stake in New Mountain Finance by 4.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock valued at $24,966,000 after purchasing an additional 115,004 shares during the period. JPMorgan Chase & Co. grew its stake in New Mountain Finance by 27.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after purchasing an additional 443,016 shares during the period. UBS Group AG increased its position in shares of New Mountain Finance by 33.4% during the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock valued at $14,194,000 after purchasing an additional 385,891 shares during the last quarter. Finally, Rivernorth Capital Management LLC bought a new stake in shares of New Mountain Finance during the 4th quarter worth $12,326,000. 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.