Keefe, Bruyette & Woods Issues Pessimistic Forecast for New Mountain Finance (NASDAQ:NMFC) Stock Price

New Mountain Finance (NASDAQ:NMFC) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 12.64% from the company’s previous close.

Several other research firms also recently commented on NMFC. Wells Fargo & Company dropped their price objective on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. B. Riley Financial lowered their price objective on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $9.25.

New Mountain Finance Trading Up 2.6%

Shares of NASDAQ:NMFC opened at $7.99 on Wednesday. New Mountain Finance has a 12-month low of $7.52 and a 12-month high of $11.52. The company has a market capitalization of $824.25 million, a PE ratio of 53.27 and a beta of 0.59. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. The business’s fifty day simple moving average is $8.68 and its 200-day simple moving average is $9.36.

Insider Buying and Selling at New Mountain Finance

In other news, COO Laura C. Holson Boswerger purchased 12,500 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the purchase, the chief operating officer directly owned 81,030 shares of the company’s stock, valued at approximately $627,172.20. The trade was a 18.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMFC. Mackenzie Financial Corp grew its stake in shares of New Mountain Finance by 3.7% in the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after buying an additional 1,126 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of New Mountain Finance by 2.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after buying an additional 2,634 shares during the period. Advyzon Investment Management LLC grew its position in New Mountain Finance by 25.3% in the fourth quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after acquiring an additional 3,246 shares during the period. Huntington National Bank increased its stake in New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares during the last quarter. Finally, Next Capital Management LLC raised its position in New Mountain Finance by 13.5% in the fourth quarter. Next Capital Management LLC now owns 29,680 shares of the company’s stock valued at $273,000 after purchasing an additional 3,530 shares during the period. Institutional investors and hedge funds own 32.08% of the company’s stock.

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.