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

New Mountain Finance Corporation (NASDAQ:NMFC) has received a consensus recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.0833.

NMFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th.

Institutional Trading of New Mountain Finance

Large investors have recently added to or reduced their stakes in the company. LSV Asset Management raised its stake in shares of New Mountain Finance by 13.4% in the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock worth $27,508,000 after purchasing an additional 353,062 shares during the last quarter. JPMorgan Chase & Co. boosted its position in New Mountain Finance by 27.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after buying an additional 443,016 shares during the last quarter. UBS Group AG increased its holdings in New Mountain Finance by 33.4% in the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock worth $14,194,000 after buying an additional 385,891 shares during the period. Rivernorth Capital Management LLC acquired a new position in New Mountain Finance in the 4th quarter worth approximately $12,326,000. Finally, Invesco Ltd. raised its position in New Mountain Finance by 18.5% during the 3rd quarter. Invesco Ltd. now owns 1,219,813 shares of the company’s stock worth $11,759,000 after buying an additional 190,152 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

NMFC opened at $7.23 on Thursday. The company has a market cap of $682.87 million, a P/E ratio of -12.47 and a beta of 0.55. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $7.33 and its 200-day moving average price is $7.90. New Mountain Finance has a 52-week low of $6.73 and a 52-week high of $10.71.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $62.78 million. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. During the same period last year, the business earned $0.32 EPS. As a group, equities analysts anticipate that New Mountain Finance will post 1.1 EPS for the current fiscal year.

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.