New Mountain Finance Corporation (NYSE:NMFC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

NMFC has been the topic of several other research reports. Zacks Investment Research cut shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods set a $15.00 price target on shares of New Mountain Finance Corporation and gave the stock a “hold” rating in a research report on Wednesday, May 31st.

Shares of New Mountain Finance Corporation (NMFC) opened at 14.15 on Friday. The stock has a 50 day moving average of $14.32 and a 200 day moving average of $14.56. New Mountain Finance Corporation has a 12-month low of $13.05 and a 12-month high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last announced its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $50.02 million during the quarter, compared to analyst estimates of $47.66 million. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. On average, analysts forecast that New Mountain Finance Corporation will post $1.36 earnings per share for the current year.

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In other news, CFO Shiraz Kajee bought 2,000 shares of New Mountain Finance Corporation stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average price of $14.63 per share, with a total value of $29,260.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at $29,260. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.73% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in NMFC. Wells Fargo & Company MN raised its position in shares of New Mountain Finance Corporation by 7.1% in the first quarter. Wells Fargo & Company MN now owns 6,482,814 shares of the investment management company’s stock valued at $96,594,000 after buying an additional 431,745 shares in the last quarter. LSV Asset Management raised its position in shares of New Mountain Finance Corporation by 214.9% in the first quarter. LSV Asset Management now owns 1,602,426 shares of the investment management company’s stock valued at $23,876,000 after buying an additional 1,093,590 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of New Mountain Finance Corporation during the first quarter valued at approximately $148,000. Capital Fund Management S.A. bought a new position in shares of New Mountain Finance Corporation during the first quarter valued at approximately $744,000. Finally, Princeton Alpha Management LP raised its position in shares of New Mountain Finance Corporation by 77.6% in the first quarter. Princeton Alpha Management LP now owns 27,332 shares of the investment management company’s stock valued at $407,000 after buying an additional 11,941 shares in the last quarter. Institutional investors own 40.76% of the company’s stock.

About New Mountain Finance Corporation

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.

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