New Mountain Finance Corporation (NASDAQ:NMFC) Stock Has Consensus Price Target of $7.50

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have been assigned a consensus recommendation of “Reduce” from the six research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.50.

NMFC has been the subject of several recent analyst reports. Weiss Ratings downgraded New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Bank of America reissued an “underperform” rating on shares of New Mountain Finance in a research report on Wednesday. Keefe, Bruyette & Woods dropped 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 report on Monday, July 20th. Finally, Wells Fargo & Company lowered their target price on New Mountain Finance from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday.

Institutional Trading of New Mountain Finance

Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in New Mountain Finance during the second quarter valued at $27,000. State of Wyoming acquired a new stake in shares of New Mountain Finance in the first quarter valued at $71,000. Catalyst Capital Advisors LLC bought a new position in shares of New Mountain Finance during the 1st quarter worth about $93,000. StoneX Group Inc. acquired a new stake in New Mountain Finance in the 3rd quarter valued at approximately $109,000. Finally, Rockefeller Capital Management L.P. increased its holdings in New Mountain Finance by 218.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,312 shares of the company’s stock valued at $141,000 after purchasing an additional 10,503 shares during the period. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Price Performance

Shares of NASDAQ:NMFC opened at $6.91 on Friday. New Mountain Finance has a 52 week low of $6.47 and a 52 week high of $9.84. 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 company has a market cap of $652.65 million, a P/E ratio of -12.80 and a beta of 0.58. The business has a fifty day simple moving average of $7.00 and a 200-day simple moving average of $7.62.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $60.41 million for the quarter, compared to the consensus estimate of $61.07 million. New Mountain Finance had a negative net margin of 21.29% and a positive return on equity of 10.52%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. Equities research analysts forecast that New Mountain Finance will post 1.08 EPS for the current year.

New Mountain Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.5%. New Mountain Finance’s dividend payout ratio is -185.19%.

New Mountain Finance Company Profile

New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company is externally managed by New Mountain Finance Advisers, an affiliate of New Mountain Capital, an investment firm focused on growth-oriented companies in industries such as business services, healthcare, software and technology.

New Mountain Finance primarily invests in debt securities, including first-lien, unitranche, second-lien and unsecured loans.