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

New Mountain Finance Corporation (NASDAQ:NMFC) has received a consensus recommendation of “Reduce” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.60.

Several equities research analysts have recently commented on NMFC shares. Zacks Research raised shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of New Mountain Finance in a research note on Thursday, August 13th. Wells Fargo & Company decreased their price objective on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, July 20th.

Hedge Funds Weigh In On New Mountain Finance

Hedge funds have recently bought and sold shares of the company. LSV Asset Management raised its holdings 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 valued at $27,508,000 after purchasing an additional 353,062 shares during the last quarter. Van ECK Associates Corp boosted its holdings in New Mountain Finance by 19.4% during the second quarter. Van ECK Associates Corp now owns 2,145,047 shares of the company’s stock worth $15,380,000 after purchasing an additional 348,872 shares during the last quarter. JPMorgan Chase & Co. grew its position in New Mountain Finance by 27.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after purchasing an additional 443,016 shares in the last quarter. UBS Group AG grew its position 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 purchasing an additional 385,891 shares in the last quarter. Finally, Rivernorth Capital Management LLC bought a new stake in New Mountain Finance in the 4th quarter worth about $12,326,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Price Performance

Shares of NMFC opened at $7.56 on Monday. The business’s fifty day moving average is $7.23 and its 200 day moving average is $7.77. New Mountain Finance has a 12-month low of $6.73 and a 12-month high of $10.71. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30. The stock has a market cap of $714.04 million, a P/E ratio of -16.09 and a beta of 0.55.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, hitting 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 the consensus estimate of $62.78 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. Sell-side analysts anticipate that New Mountain Finance will post 1.1 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend is Wednesday, September 16th. New Mountain Finance’s dividend payout ratio is presently -212.77%.

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.