New Mountain Finance (NASDAQ:NMFC) Price Target Lowered to $9.00 at Keefe, Bruyette & Woods

New Mountain Finance (NASDAQ:NMFC) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.64% from the company’s previous close.

A number of other analysts have also issued reports on NMFC. B. Riley Financial cut their target price on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their price objective on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Finally, Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $9.25.

New Mountain Finance Price Performance

Shares of NMFC opened at $7.99 on Wednesday. The firm has a 50-day simple moving average of $8.68 and a two-hundred day simple moving average of $9.36. The stock has a market cap of $824.25 million, a PE ratio of 53.27 and a beta of 0.59. New Mountain Finance has a 1-year low of $7.52 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16.

Insider Activity

In other New Mountain Finance news, COO Laura C. Holson Boswerger acquired 12,500 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $7.74 per share, for a total transaction of $96,750.00. Following the acquisition, the chief operating officer owned 81,030 shares in the company, valued at $627,172.20. The trade was a 18.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Several hedge funds have recently added to or reduced their stakes in NMFC. MTM Investment Management LLC purchased a new stake in New Mountain Finance during the 2nd quarter valued at approximately $38,000. Huntington National Bank boosted its holdings in shares of New Mountain Finance by 311.8% in the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after acquiring an additional 3,433 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of New Mountain Finance during the third quarter worth about $47,000. US Bancorp DE acquired a new position in shares of New Mountain Finance during the third quarter worth about $48,000. Finally, Advisory Services Network LLC purchased a new position in New Mountain Finance during the third quarter worth about $65,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.