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

New Mountain Finance Corporation (NASDAQ:NMFC) has been given an average recommendation of “Reduce” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.1667.

A number of equities analysts have commented on NMFC shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods cut their price target on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Zacks Research raised shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, B. Riley Financial restated a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NMFC. Millennium Management LLC grew its holdings in shares of New Mountain Finance by 36.9% during the first quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock worth $7,843,000 after purchasing an additional 191,518 shares during the last quarter. Truist Financial Corp bought a new stake in shares of New Mountain Finance in the 2nd quarter valued at $167,000. Inspire Investing LLC increased its stake in New Mountain Finance by 17.7% in the second quarter. Inspire Investing LLC now owns 36,844 shares of the company’s stock valued at $389,000 after purchasing an additional 5,548 shares in the last quarter. Tranquility Partners LLC grew its stake in shares of New Mountain Finance by 92.6% in the 2nd quarter. Tranquility Partners LLC now owns 232,087 shares of the company’s stock valued at $2,449,000 after buying an additional 111,615 shares during the period. Finally, Naviter Wealth LLC grew its stake in New Mountain Finance by 4.1% in the second quarter. Naviter Wealth LLC now owns 205,757 shares of the company’s stock valued at $2,171,000 after acquiring an additional 8,080 shares during the period. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $8.17 on Thursday. 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 firm’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $9.61. The firm has a market capitalization of $842.82 million, a P/E ratio of 12.57 and a beta of 0.59. New Mountain Finance has a 1 year low of $7.91 and a 1 year high of $12.05.

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.