New Mountain Finance (NMFC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of New Mountain Finance (NYSE:NMFC) from a hold rating to a buy rating in a report published on Wednesday morning. The firm currently has $15.00 price objective on the investment management company’s stock.

According to Zacks, “New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation. It seeks to invest in United States. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. “

How to Become a New Pot Stock Millionaire

Separately, Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the stock a hold rating in a report on Thursday, March 1st.

Shares of NMFC stock opened at $13.10 on Wednesday. The firm has a market capitalization of $1,009.94, a P/E ratio of 9.36 and a beta of 0.58. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.84. New Mountain Finance has a fifty-two week low of $12.05 and a fifty-two week high of $15.00.

New Mountain Finance (NYSE:NMFC) last released its quarterly earnings results on Wednesday, February 28th. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $53.30 million for the quarter, compared to analysts’ expectations of $48.94 million. New Mountain Finance had a return on equity of 10.26% and a net margin of 55.29%. analysts expect that New Mountain Finance will post 1.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date is Wednesday, March 14th. New Mountain Finance’s dividend payout ratio (DPR) is presently 97.14%.

In related news, insider John Kline bought 20,000 shares of the stock in a transaction on Monday, March 5th. The shares were purchased at an average price of $13.14 per share, for a total transaction of $262,800.00. Following the acquisition, the insider now owns 68,255 shares in the company, valued at $896,870.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Stone bought 3,300 shares of the stock in a transaction on Tuesday, March 13th. The shares were bought at an average price of $13.53 per share, for a total transaction of $44,649.00. Following the acquisition, the insider now owns 90,190 shares in the company, valued at approximately $1,220,270.70. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 557,831 shares of company stock worth $7,449,774. 9.73% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in NMFC. California Public Employees Retirement System grew its holdings in New Mountain Finance by 43.0% during the 2nd quarter. California Public Employees Retirement System now owns 34,600 shares of the investment management company’s stock valued at $503,000 after buying an additional 10,400 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in New Mountain Finance by 176.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 66,902 shares of the investment management company’s stock valued at $953,000 after buying an additional 42,711 shares during the last quarter. Macquarie Group Ltd. grew its holdings in New Mountain Finance by 28.2% during the 3rd quarter. Macquarie Group Ltd. now owns 92,141 shares of the investment management company’s stock valued at $1,313,000 after buying an additional 20,241 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of New Mountain Finance by 269.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 45,294 shares of the investment management company’s stock worth $645,000 after purchasing an additional 33,041 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of New Mountain Finance by 11.0% during the 3rd quarter. Legal & General Group Plc now owns 219,315 shares of the investment management company’s stock worth $3,120,000 after purchasing an additional 21,683 shares during the period. Hedge funds and other institutional investors own 39.91% of the company’s stock.

WARNING: This piece was reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3295652/new-mountain-finance-nmfc-raised-to-buy-at-zacks-investment-research.html.

New Mountain Finance Company Profile

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

Get a free copy of the Zacks research report on New Mountain Finance (NMFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for New Mountain Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

FIG Partners Analysts Lift Earnings Estimates for Boston Private Financial Holdings, Inc.
FIG Partners Analysts Lift Earnings Estimates for Boston Private Financial Holdings, Inc.
Equities Analysts Set Expectations for Procter & Gamble’s Q4 2018 Earnings
Equities Analysts Set Expectations for Procter & Gamble’s Q4 2018 Earnings
Trex  vs. Enviva Partners  Financial Comparison
Trex vs. Enviva Partners Financial Comparison
Brokers Set Expectations for Exponent’s FY2018 Earnings
Brokers Set Expectations for Exponent’s FY2018 Earnings
Analyzing John Wiley & Sons  and Houghton Mifflin Harcourt Learning Technology
Analyzing John Wiley & Sons and Houghton Mifflin Harcourt Learning Technology
Laredo Petroleum Inc to Post FY2018 Earnings of $1.08 Per Share, Seaport Global Securities Forecasts
Laredo Petroleum Inc to Post FY2018 Earnings of $1.08 Per Share, Seaport Global Securities Forecasts


© 2006-2018 Ticker Report. Google+.