New Mountain Finance Corporation (NASDAQ:NMFC) Receives Average Rating of “Reduce” from Brokerages

New Mountain Finance Corporation (NASDAQ:NMFC) has received an average recommendation of “Reduce” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.1667.

A number of equities research analysts have recently commented on NMFC shares. New Street Research set a $10.00 price target on shares of New Mountain Finance in a report on Friday, October 10th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods cut their target price on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Finally, Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th.

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMFC. Mackenzie Financial Corp raised its stake in New Mountain Finance by 3.7% during the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after buying an additional 1,126 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of New Mountain Finance by 3.8% in the second quarter. International Assets Investment Management LLC now owns 32,438 shares of the company’s stock worth $342,000 after acquiring an additional 1,179 shares during the period. Farther Finance Advisors LLC increased its position in New Mountain Finance by 2.9% during the second quarter. Farther Finance Advisors LLC now owns 48,144 shares of the company’s stock valued at $508,000 after acquiring an additional 1,359 shares during the last quarter. Union Bancaire Privee UBP SA lifted its holdings in New Mountain Finance by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 28,812 shares of the company’s stock valued at $304,000 after acquiring an additional 1,393 shares during the period. Finally, Spire Wealth Management boosted its position in New Mountain Finance by 4.0% in the second quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock worth $414,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Trading Up 0.5%

NASDAQ NMFC opened at $9.28 on Friday. New Mountain Finance has a 12 month low of $8.84 and a 12 month high of $12.05. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average price is $9.37 and its 200-day moving average price is $9.86. The stock has a market cap of $957.32 million, a P/E ratio of 14.28 and a beta of 0.58.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The company had revenue of $80.53 million for the quarter, compared to analysts’ expectations of $83.91 million. During the same quarter in the previous year, the business posted $0.34 EPS. New Mountain Finance’s revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that New Mountain Finance will post 1.39 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a $0.32 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.8%. New Mountain Finance’s payout ratio is currently 196.92%.

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.