New Mountain Finance Corporation (NASDAQ:NMFC) Stock Has Consensus Target Price of $7.67 According to Brokerages

New Mountain Finance Corporation (NASDAQ:NMFC) has been assigned a consensus recommendation of “Reduce” from the five research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.67.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods reduced their price target on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, July 20th. Finally, Wells Fargo & Company cut their price objective on shares of New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of New Mountain Finance during the 2nd quarter worth about $27,000. Confluence Investment Management LLC grew its stake in shares of New Mountain Finance by 2.1% in the 3rd quarter. Confluence Investment Management LLC now owns 283,303 shares of the company’s stock valued at $1,960,000 after purchasing an additional 5,694 shares during the period. Glenview Trust Co grew its stake in shares of New Mountain Finance by 73.3% in the 1st quarter. Glenview Trust Co now owns 17,500 shares of the company’s stock valued at $136,000 after purchasing an additional 7,400 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of New Mountain Finance by 3.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 243,132 shares of the company’s stock valued at $1,887,000 after purchasing an additional 8,116 shares during the period. Finally, State of Wyoming bought a new stake in New Mountain Finance in the first quarter valued at $71,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Trading Up 4.2%

New Mountain Finance stock opened at $6.89 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.66 and a current ratio of 3.66. The business’s 50-day simple moving average is $7.26 and its 200-day simple moving average is $7.53. The firm has a market capitalization of $650.76 million, a PE ratio of -14.66 and a beta of 0.60. New Mountain Finance has a 52 week low of $6.60 and a 52 week high of $9.84.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%. The business had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $62.78 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts forecast that New Mountain Finance will post 1.10 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.5%. New Mountain Finance’s payout ratio is currently -212.77%.

About New Mountain Finance

New Mountain Finance Corporation is a business development company (BDC) that provides financing to established middle-market companies. The company primarily invests in privately held businesses through senior secured loans, unitranche loans, subordinated debt and other debt securities, and may also make equity investments.

New Mountain Finance generally focuses on companies with strong market positions, recurring revenue and experienced management teams. Its investments span a range of industries and are intended to support acquisitions, recapitalizations, growth initiatives and other corporate purposes.