Brokerages Set New Mountain Finance Corp. (NYSE:NMFC) Price Target at $12.42

Shares of New Mountain Finance Corp. (NYSE:NMFC) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have given a buy 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 $12.42.

NMFC has been the subject of a number of research analyst reports. Bank of America initiated coverage on New Mountain Finance in a report on Monday, February 3rd. They issued a “buy” rating and a $14.50 price target for the company. ValuEngine downgraded New Mountain Finance from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. National Securities upgraded New Mountain Finance from a “neutral” rating to a “buy” rating in a report on Tuesday, March 17th. Zacks Investment Research downgraded New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Co lowered their price objective on New Mountain Finance from $14.50 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th.

NMFC stock traded up $0.57 during midday trading on Tuesday, hitting $5.59. 3,042,051 shares of the company’s stock were exchanged, compared to its average volume of 1,214,012. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.51. New Mountain Finance has a 12-month low of $4.62 and a 12-month high of $14.45. The firm has a 50 day moving average price of $10.02 and a 200-day moving average price of $12.80. The stock has a market capitalization of $536.44 million, a price-to-earnings ratio of 4.47 and a beta of 1.11.

New Mountain Finance (NYSE:NMFC) last posted its quarterly earnings data on Wednesday, February 26th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). New Mountain Finance had a return on equity of 10.15% and a net margin of 40.71%. The business had revenue of $73.26 million for the quarter, compared to analysts’ expectations of $75.81 million. On average, sell-side analysts forecast that New Mountain Finance will post 1.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, March 12th. This represents a $1.36 dividend on an annualized basis and a yield of 24.33%. New Mountain Finance’s payout ratio is currently 107.09%.

In other New Mountain Finance news, insider James Stone purchased 3,200 shares of New Mountain Finance stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $13.02 per share, for a total transaction of $41,664.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Adam Weinstein purchased 25,000 shares of New Mountain Finance stock in a transaction on Monday, March 9th. The shares were acquired at an average price of $11.45 per share, with a total value of $286,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 64,550 shares of company stock valued at $692,921. 9.09% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Manchester Financial Inc. acquired a new position in New Mountain Finance during the 4th quarter worth $36,000. Verus Capital Partners LLC acquired a new stake in shares of New Mountain Finance in the fourth quarter valued at $61,000. Marshall Wace North America L.P. acquired a new stake in shares of New Mountain Finance in the first quarter valued at $68,000. Quantbot Technologies LP acquired a new stake in shares of New Mountain Finance in the fourth quarter valued at $89,000. Finally, Advisory Services Network LLC acquired a new stake in shares of New Mountain Finance in the fourth quarter valued at $102,000. Institutional investors own 36.90% of the company’s stock.

About New Mountain Finance

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.

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