New Mountain Finance’s (NMFC) Hold (C-) Rating Reaffirmed at Weiss Ratings

New Mountain Finance (NASDAQ:NMFC)‘s stock had its “hold (c-)” rating reiterated by stock analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other research analysts have also commented on the company. Zacks Research lowered New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Bank of America reiterated an “underperform” rating and set a $10.00 price target (down previously from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. New Street Research set a $10.00 price target on New Mountain Finance in a report on Friday, October 10th. Finally, Oppenheimer set a $11.00 price target on New Mountain Finance and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, New Mountain Finance currently has a consensus rating of “Reduce” and an average target price of $10.50.

New Mountain Finance Trading Up 0.9%

Shares of NMFC opened at $9.57 on Friday. New Mountain Finance has a 52-week low of $8.84 and a 52-week high of $12.05. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average is $9.90 and its two-hundred day moving average is $10.22. The stock has a market cap of $1.02 billion, a PE ratio of 12.59 and a beta of 0.79.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.The business had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Research analysts forecast that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Adam B. Weinstein acquired 49,750 shares of New Mountain Finance stock in a transaction that occurred on Monday, September 15th. The shares were purchased at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the acquisition, the executive vice president owned 652,490 shares in the company, valued at approximately $6,544,474.70. This represents a 8.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven B. Klinsky purchased 106,691 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were acquired at an average price of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the purchase, the director directly owned 4,370,857 shares of the company’s stock, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 157,191 shares of company stock worth $1,550,035. 11.71% of the stock is owned by insiders.

Institutional Trading of New Mountain Finance

A number of institutional investors and hedge funds have recently bought and sold shares of NMFC. MTM Investment Management LLC purchased a new stake in New Mountain Finance during the second quarter worth about $38,000. State of Alaska Department of Revenue purchased a new stake in New Mountain Finance during the third quarter worth about $47,000. 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 purchasing an additional 3,433 shares during the period. MAI Capital Management increased its stake in New Mountain Finance by 44.9% during the first quarter. MAI Capital Management now owns 7,295 shares of the company’s stock worth $80,000 after purchasing an additional 2,261 shares during the period. Finally, Quarry LP increased its stake in New Mountain Finance by 360.7% during the first quarter. Quarry LP now owns 8,095 shares of the company’s stock worth $89,000 after purchasing an additional 6,338 shares during the period. 32.08% of the stock is currently owned by hedge funds and other 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.