New Mountain Finance (NASDAQ:NMFC) Stock Rating Upgraded by Wall Street Zen

New Mountain Finance (NASDAQ:NMFC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

NMFC has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. B. Riley Financial reduced their target price on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company reduced their target price on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.25.

New Mountain Finance Trading Up 1.8%

Shares of NMFC stock opened at $8.08 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16. The company has a market cap of $795.96 million, a price-to-earnings ratio of 53.87 and a beta of 0.54. The stock has a 50 day simple moving average of $8.06 and a 200-day simple moving average of $8.93. New Mountain Finance has a 1-year low of $7.47 and a 1-year high of $11.04.

Insider Activity at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 276,242 shares of New Mountain Finance stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $8.05 per share, with a total value of $2,223,748.10. Following the purchase, the director owned 5,370,858 shares in the company, valued at $43,235,406.90. This trade represents a 5.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Laura C. Holson Boswerger acquired 12,500 shares of New Mountain Finance stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $7.74 per share, with a total value of $96,750.00. Following the completion of the purchase, 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 SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 1,200,673 shares of company stock valued at $9,662,634. 11.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in New Mountain Finance by 23.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock valued at $5,844,000 after purchasing an additional 114,840 shares during the last quarter. JPMorgan Chase & Co. raised its stake in New Mountain Finance by 29.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company’s stock valued at $15,382,000 after purchasing an additional 363,443 shares during the last quarter. Dimension Capital Management LLC raised its stake in New Mountain Finance by 17.0% in the 2nd quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock valued at $10,023,000 after purchasing an additional 138,123 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in New Mountain Finance by 17.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 480,420 shares of the company’s stock valued at $4,631,000 after purchasing an additional 70,277 shares during the last quarter. Finally, Tranquility Partners LLC raised its stake in New Mountain Finance by 36.4% in the 3rd quarter. Tranquility Partners LLC now owns 316,671 shares of the company’s stock valued at $3,053,000 after purchasing an additional 84,584 shares during the last quarter. 32.08% of the stock is owned by institutional investors and hedge funds.

About New Mountain Finance

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.