Brokerages Set New Mountain Finance Corporation (NASDAQ:NMFC) PT at $9.25

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have received a consensus rating of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.25.

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Wall Street Zen raised New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th.

New Mountain Finance Trading Up 2.9%

NMFC traded up $0.20 on Friday, hitting $7.07. The company had a trading volume of 817,261 shares, compared to its average volume of 770,337. The company’s fifty day moving average price is $7.70 and its 200 day moving average price is $8.15. The firm has a market cap of $667.76 million, a P/E ratio of -12.19 and a beta of 0.55. New Mountain Finance has a 1 year low of $6.80 and a 1 year high of $10.90. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.26.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. The firm had revenue of $41.27 million during the quarter, compared to analysts’ expectations of $67.76 million. During the same quarter last year, the company posted $0.32 EPS. The firm’s quarterly revenue was down 19.7% on a year-over-year basis. As a group, equities analysts expect that New Mountain Finance will post 1.11 earnings per share for the current year.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 14.1%. New Mountain Finance’s dividend payout ratio (DPR) is currently -172.41%.

Institutional Trading of New Mountain Finance

Large investors have recently made changes to their positions in the company. Muzinich & Co. Inc. grew its holdings in New Mountain Finance by 26.6% during the 4th quarter. Muzinich & Co. Inc. now owns 849,437 shares of the company’s stock worth $7,823,000 after acquiring an additional 178,381 shares in the last quarter. LSV Asset Management lifted its position in shares of New Mountain Finance by 13.4% during the 4th 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. grew its stake in shares of New Mountain Finance by 29.5% during the third quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company’s stock worth $15,382,000 after purchasing an additional 363,443 shares in the last quarter. UBS Group AG grew its stake in shares of New Mountain Finance by 33.4% during the fourth 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, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in New Mountain Finance by 64.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 344,000 shares of the company’s stock valued at $3,168,000 after buying an additional 134,500 shares in the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

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.