New Mountain Finance Corp. (NMFC) Given Consensus Rating of “Hold” by Analysts
Shares of New Mountain Finance Corp. (NYSE:NMFC) have received an average recommendation of “Hold” from the six research firms that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.50.
A number of analysts recently issued reports on NMFC shares. Zacks Investment Research upgraded shares of New Mountain Finance Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Oppenheimer Holdings Inc. raised their price objective on shares of New Mountain Finance Corp. from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Robert W. Baird downgraded shares of New Mountain Finance Corp. from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Thursday, July 14th.
In other news, Director David Malpass sold 85,000 shares of New Mountain Finance Corp. stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $14.00, for a total value of $1,190,000.00. Following the completion of the transaction, the director now owns 101,924 shares in the company, valued at $1,426,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several institutional investors have recently bought and sold shares of NMFC. Green Square Capital LLC acquired a new position in New Mountain Finance Corp. during the second quarter valued at $199,000. Zacks Investment Management purchased a new position in New Mountain Finance Corp. during the second quarter worth approximately $217,000. Trexquant Investment LP raised its position in New Mountain Finance Corp. by 1.0% in the second quarter. Trexquant Investment LP now owns 20,900 shares of the investment management company’s stock worth $270,000 after buying an additional 200 shares during the period. Commonwealth Equity Services Inc raised its position in New Mountain Finance Corp. by 18.5% in the first quarter. Commonwealth Equity Services Inc now owns 21,414 shares of the investment management company’s stock worth $271,000 after buying an additional 3,350 shares during the period. Finally, Clinton Group Inc. raised its position in New Mountain Finance Corp. by 63.8% in the second quarter. Clinton Group Inc. now owns 22,612 shares of the investment management company’s stock worth $292,000 after buying an additional 8,810 shares during the period.
Shares of New Mountain Finance Corp. (NYSE:NMFC) opened at 13.51 on Thursday. The stock’s 50 day moving average is $13.87 and its 200-day moving average is $13.12. New Mountain Finance Corp. has a one year low of $10.87 and a one year high of $14.30.
New Mountain Finance Corp. (NYSE:NMFC) last released its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. On average, analysts predict that New Mountain Finance Corp. will post $1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.36 annualized dividend and a dividend yield of 10.07%.
New Mountain Finance Corp. Company Profile
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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