Analysts Set New Mountain Finance Corp. (NMFC) PT at $13.50
Shares of New Mountain Finance Corp. (NYSE:NMFC) have earned a consensus rating of “Hold” from the six analysts that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned 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.
NMFC has been the subject of a number of research analyst reports. Oppenheimer Holdings Inc. upped their price objective on New Mountain Finance Corp. from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Zacks Investment Research downgraded New Mountain Finance Corp. from a “hold” rating to a “sell” rating in a report on Friday, November 11th.
New Mountain Finance Corp. (NYSE:NMFC) opened at 13.95 on Thursday. The firm’s 50-day moving average price is $13.64 and its 200-day moving average price is $13.26. New Mountain Finance Corp. has a 12 month low of $10.87 and a 12 month high of $14.30. The stock has a market cap of $889.40 million and a P/E ratio of 20.64.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.36 annualized dividend and a yield of 9.75%.
In other news, CAO Adam Weinstein acquired 3,750 shares of the firm’s stock in a transaction on Thursday, November 3rd. The stock was bought at an average cost of $13.23 per share, with a total value of $49,612.50. Following the transaction, the chief accounting officer now directly owns 64,845 shares in the company, valued at approximately $857,899.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Hamwee acquired 25,000 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was purchased at an average cost of $13.33 per share, with a total value of $333,250.00. Following the completion of the transaction, the chief executive officer now owns 242,650 shares in the company, valued at $3,234,524.50. The disclosure for this purchase can be found here.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its position in New Mountain Finance Corp. by 34.2% in the first quarter. Legal & General Group Plc now owns 128,406 shares of the investment management company’s stock worth $1,622,000 after buying an additional 32,718 shares during the last quarter. Para Advisors LLC purchased a new position in New Mountain Finance Corp. during the first quarter worth $948,000. Rothschild Investment Corp IL boosted its position in New Mountain Finance Corp. by 5.7% in the second quarter. Rothschild Investment Corp IL now owns 37,294 shares of the investment management company’s stock worth $481,000 after buying an additional 2,000 shares during the last quarter. Sigma Planning Corp boosted its position in New Mountain Finance Corp. by 131.7% in the second quarter. Sigma Planning Corp now owns 52,100 shares of the investment management company’s stock worth $672,000 after buying an additional 29,613 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in New Mountain Finance Corp. during the second quarter worth $4,457,000.
About New Mountain Finance Corp.
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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