New Mountain Finance Corporation (NASDAQ:NMFC) Stock Has Consensus Price Target of $8.25

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) have been assigned an average rating of “Reduce” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.25.

Several brokerages recently weighed in on NMFC. Keefe, Bruyette & Woods dropped their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of New Mountain Finance in a research report on Thursday, August 13th. Finally, Wells Fargo & Company dropped their price objective on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th.

New Mountain Finance Stock Performance

New Mountain Finance stock opened at $7.01 on Friday. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $662.09 million, a PE ratio of -14.91 and a beta of 0.57. The firm has a fifty day simple moving average of $7.32 and a two-hundred day simple moving average of $7.63. New Mountain Finance has a twelve month low of $6.73 and a twelve month high of $9.86.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $62.78 million. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%.During the same period last year, the firm earned $0.32 earnings per share. Research analysts expect that New Mountain Finance will post 1.1 EPS for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 14.3%. New Mountain Finance’s dividend payout ratio is presently -212.77%.

Institutional Investors Weigh In On New Mountain Finance

A number of large investors have recently added to or reduced their stakes in NMFC. LSV Asset Management boosted its holdings in shares of New Mountain Finance by 13.4% during the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock worth $27,508,000 after purchasing an additional 353,062 shares during the period. Van ECK Associates Corp raised its position in New Mountain Finance by 19.4% during the 2nd quarter. Van ECK Associates Corp now owns 2,145,047 shares of the company’s stock valued at $15,380,000 after purchasing an additional 348,872 shares during the last quarter. Corient Private Wealth LP lifted its holdings in New Mountain Finance by 29.2% in the 2nd quarter. Corient Private Wealth LP now owns 1,125,657 shares of the company’s stock worth $8,071,000 after buying an additional 254,361 shares during the period. Corient Private Wealth LLC purchased a new stake in New Mountain Finance in the 4th quarter worth approximately $7,450,000. Finally, Legal & General Group Plc grew its position in shares of New Mountain Finance by 13.5% in the 4th quarter. Legal & General Group Plc now owns 742,423 shares of the company’s stock worth $6,827,000 after buying an additional 88,441 shares during the last quarter. Institutional investors own 32.08% of the company’s stock.

New Mountain Finance Company Profile

New Mountain Finance Corporation (NASDAQ: NMFC) is a business development company that provides financing to middle-market businesses. The company invests primarily in debt securities, including senior secured loans, unitranche loans and subordinated debt, and may also make equity investments. Its investments are generally structured to support acquisitions, recapitalizations, refinancings, growth initiatives and other corporate activities.

New Mountain Finance focuses on companies operating in defensive growth industries, such as business services, healthcare, software and technology, and other sectors it believes have resilient demand and favorable long-term trends.