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

New Mountain Finance Corporation (NASDAQ:NMFCGet Free Report) has received an average recommendation of “Reduce” from the six analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.60.

Several brokerages recently commented on NMFC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of New Mountain Finance in a report on Thursday, August 13th. Wells Fargo & Company decreased their target price on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods reduced their price target 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. Finally, Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th.

Check Out Our Latest Report on NMFC

Hedge Funds Weigh In On New Mountain Finance

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at $48,000. Advisory Services Network LLC bought a new position in shares of New Mountain Finance in the third quarter worth $65,000. State of Wyoming acquired a new position in New Mountain Finance in the first quarter valued at about $71,000. United Capital Financial Advisors LLC acquired a new position in New Mountain Finance in the third quarter valued at about $97,000. Finally, Glenview Trust co bought a new stake in New Mountain Finance during the second quarter worth about $107,000. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Price Performance

NASDAQ:NMFC opened at $7.54 on Monday. The firm has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $7.74. New Mountain Finance has a 1-year low of $6.73 and a 1-year high of $10.71. The stock has a market capitalization of $712.15 million, a PE ratio of -16.04 and a beta of 0.55. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.30.

New Mountain Finance (NASDAQ:NMFCGet Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%.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 previous year, the business earned $0.32 earnings per share. On average, research analysts expect that New Mountain Finance will post 1.1 EPS for the current fiscal year.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 13.3%. New Mountain Finance’s payout ratio is -212.77%.

New Mountain Finance Company Profile

(Get Free Report)

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.

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Analyst Recommendations for New Mountain Finance (NASDAQ:NMFC)

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