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

New Mountain Finance Corporation (NASDAQ:NMFC) has earned a consensus rating of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.1667.

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. New Street Research set a $10.00 price objective on New Mountain Finance in a research report on Friday, October 10th. Bank of America restated an “underperform” rating and issued a $10.00 target price (down previously from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Wednesday, October 8th. Finally, B. Riley reiterated a “neutral” rating and set a $10.00 price target (down from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th.

New Mountain Finance Trading Down 0.1%

NASDAQ:NMFC opened at $9.58 on Wednesday. The stock has a market cap of $988.27 million, a PE ratio of 14.74 and a beta of 0.57. New Mountain Finance has a fifty-two week low of $8.84 and a fifty-two week high of $12.05. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.99 and a quick ratio of 1.99. The stock’s 50-day moving average is $9.50 and its two-hundred day moving average is $10.06.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $80.53 million during the quarter, compared to analysts’ expectations of $83.91 million. New Mountain Finance had a net margin of 20.84% and a return on equity of 10.42%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. As a group, equities research analysts forecast that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.28 annualized dividend and a dividend yield of 13.4%. New Mountain Finance’s dividend payout ratio is 196.92%.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors have recently bought and sold shares of the stock. Tranquility Partners LLC lifted its position in New Mountain Finance by 92.6% during the 2nd quarter. Tranquility Partners LLC now owns 232,087 shares of the company’s stock worth $2,449,000 after acquiring an additional 111,615 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of New Mountain Finance by 266.7% in the second quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock worth $3,647,000 after purchasing an additional 251,596 shares during the period. Truist Financial Corp acquired a new position in shares of New Mountain Finance during the 2nd quarter worth about $167,000. Arlington Capital Management Inc. bought a new stake in New Mountain Finance during the 2nd quarter valued at approximately $947,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in New Mountain Finance by 26.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 491,424 shares of the company’s stock valued at $5,185,000 after buying an additional 104,248 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.