Keefe, Bruyette & Woods Issues Pessimistic Forecast for New Mountain Finance (NASDAQ:NMFC) Stock Price

New Mountain Finance (NASDAQ:NMFC) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $9.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 12.52% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $9.08.

New Mountain Finance Price Performance

Shares of NMFC opened at $7.11 on Monday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.26. New Mountain Finance has a 12 month low of $6.80 and a 12 month high of $10.88. The firm’s 50 day moving average is $7.56 and its 200-day moving average is $8.07. The stock has a market capitalization of $671.54 million, a PE ratio of -12.26 and a beta of 0.55.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $41.27 million during the quarter, compared to analysts’ expectations of $67.76 million. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The firm’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. Equities research analysts forecast that New Mountain Finance will post 1.11 EPS for the current year.

Hedge Funds Weigh In On New Mountain Finance

Hedge funds and other institutional investors have recently modified their holdings of the business. Rivernorth Capital Management LLC bought a new position in shares of New Mountain Finance in the fourth quarter worth about $12,326,000. Corient Private Wealth LLC bought a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $7,450,000. Closed End Fund Advisors Inc. bought a new stake in shares of New Mountain Finance during the 4th quarter valued at approximately $5,398,000. Truffle Hound Capital LLC acquired a new position in New Mountain Finance during the 4th quarter worth approximately $5,066,000. Finally, JPMorgan Chase & Co. increased its position in New Mountain Finance by 27.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after purchasing an additional 443,016 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

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.