New Mountain Finance (NASDAQ:NMFC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of New Mountain Finance (NASDAQ:NMFC) from a sell rating to a hold rating in a research report sent to investors on Sunday.

A number of other equities research analysts also recently issued reports on NMFC. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Wells Fargo & Company cut their price objective on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Finally, B. Riley Financial dropped 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. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, New Mountain Finance currently has an average rating of “Reduce” and a consensus price target of $9.25.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $7.94 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The company has a market cap of $782.17 million, a P/E ratio of 52.93 and a beta of 0.54. New Mountain Finance has a fifty-two week low of $7.47 and a fifty-two week high of $11.04. The firm’s 50 day moving average is $8.07 and its two-hundred day moving average is $8.94.

New Mountain Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.28 annualized dividend and a yield of 16.1%. New Mountain Finance’s dividend payout ratio (DPR) is 853.33%.

Insiders Place Their Bets

In related news, Director Steven B. Klinsky bought 276,242 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $8.05 per share, for a total transaction of $2,223,748.10. Following the completion of the purchase, the director owned 5,370,858 shares in the company, valued at $43,235,406.90. This represents a 5.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Laura C. Holson Boswerger bought 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $7.74 per share, for a total transaction of $96,750.00. Following the completion of the acquisition, the chief operating officer owned 81,030 shares in the company, valued at approximately $627,172.20. This trade represents a 18.24% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,200,673 shares of company stock worth $9,662,634 over the last quarter. 11.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its stake in shares of New Mountain Finance by 218.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,312 shares of the company’s stock valued at $141,000 after purchasing an additional 10,503 shares during the period. Fund Advisors of America Inc FL acquired a new position in shares of New Mountain Finance during the fourth quarter worth $198,000. Corient Private Wealth LLC purchased a new position in shares of New Mountain Finance in the fourth quarter valued at $7,450,000. Virtu Financial LLC grew its holdings in New Mountain Finance by 66.9% during the 4th quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock valued at $202,000 after purchasing an additional 8,785 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in New Mountain Finance during the 4th quarter valued at $146,000. Hedge funds and other 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.