New Mountain Finance Corporation (NASDAQ:NMFC) Stock Now Rated “Reduce” by Wall Street Analysts

New Mountain Finance Corporation (NASDAQ:NMFC) has received an average recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.67.

A number of research firms have weighed in on NMFC. Weiss Ratings downgraded New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Wells Fargo & Company dropped their price target on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods cut their price objective on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, July 20th.

New Mountain Finance Price Performance

NMFC stock opened at $6.61 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.66 and a quick ratio of 3.66. New Mountain Finance has a one year low of $6.55 and a one year high of $9.84. The stock has a market cap of $624.31 million, a PE ratio of -14.06 and a beta of 0.60. The firm has a 50 day simple moving average of $7.21 and a two-hundred day simple moving average of $7.51.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The firm had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $62.78 million. During the same quarter last year, the company posted $0.32 EPS. On average, analysts predict that New Mountain Finance will post 1.10 EPS for the current fiscal year.

Institutional Trading of New Mountain Finance

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of New Mountain Finance during the second quarter worth approximately $27,000. State of Wyoming purchased a new stake in shares of New Mountain Finance in the 1st quarter valued at $71,000. Catalyst Capital Advisors LLC purchased a new stake in shares of New Mountain Finance in the 1st quarter valued at $93,000. Rockefeller Capital Management L.P. grew its holdings in shares of New Mountain Finance by 218.4% during the 4th 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 last quarter. Finally, SG Americas Securities LLC bought a new position in shares of New Mountain Finance during the 1st quarter valued at $122,000. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Company Profile

New Mountain Finance Corporation is a business development company (BDC) that provides financing to established middle-market companies. The company primarily invests in privately held businesses through senior secured loans, unitranche loans, subordinated debt and other debt securities, and may also make equity investments.

New Mountain Finance generally focuses on companies with strong market positions, recurring revenue and experienced management teams. Its investments span a range of industries and are intended to support acquisitions, recapitalizations, growth initiatives and other corporate purposes.