Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of New Mountain Finance from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research report on Wednesday, March 21st. ValuEngine lowered shares of New Mountain Finance from a buy rating to a hold rating in a research report on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the stock a hold rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $15.00.
Shares of NYSE NMFC traded down $0.05 during mid-day trading on Wednesday, hitting $13.25. 46,258 shares of the company’s stock traded hands, compared to its average volume of 385,280. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1,013.73, a price-to-earnings ratio of 10.31 and a beta of 0.54. New Mountain Finance has a 1 year low of $12.05 and a 1 year high of $15.00.
New Mountain Finance (NYSE:NMFC) last announced its earnings results on Wednesday, February 28th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. New Mountain Finance had a net margin of 55.29% and a return on equity of 10.26%. The firm had revenue of $53.30 million for the quarter, compared to analysts’ expectations of $48.94 million. equities analysts predict that New Mountain Finance will post 1.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 10.26%. The ex-dividend date of this dividend was Wednesday, March 14th. New Mountain Finance’s dividend payout ratio (DPR) is currently 105.43%.
In related news, insider James Stone bought 3,300 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average cost of $13.53 per share, for a total transaction of $44,649.00. Following the purchase, the insider now directly owns 90,190 shares of the company’s stock, valued at $1,220,270.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alfred F. Hurley, Jr. bought 5,000 shares of the company’s stock in a transaction on Friday, March 16th. The stock was bought at an average price of $13.04 per share, for a total transaction of $65,200.00. The disclosure for this purchase can be found here. Insiders acquired a total of 557,831 shares of company stock worth $7,449,774 over the last 90 days. Insiders own 9.39% of the company’s stock.
Hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its stake in New Mountain Finance by 222.3% in the 4th quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock worth $140,000 after acquiring an additional 7,115 shares in the last quarter. Kovack Advisors Inc. bought a new position in New Mountain Finance in the 4th quarter worth about $146,000. OxFORD Asset Management LLP bought a new position in New Mountain Finance in the 3rd quarter worth about $161,000. Cubist Systematic Strategies LLC bought a new position in New Mountain Finance in the 3rd quarter worth about $201,000. Finally, Two Sigma Securities LLC bought a new position in New Mountain Finance in the 4th quarter worth about $210,000. Institutional investors and hedge funds own 39.98% of the company’s stock.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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