New Mountain Finance (NASDAQ:NMFC) Price Target Cut to $9.00 by Analysts at Keefe, Bruyette & Woods

New Mountain Finance (NASDAQ:NMFC) had its price target decreased by Keefe, Bruyette & Woods from $10.00 to $9.00 in a report published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Wells Fargo & Company decreased their price target on shares of 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. B. Riley Financial lowered their price target on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a report on Tuesday. Finally, Zacks Research downgraded shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.25.

New Mountain Finance Stock Up 2.0%

New Mountain Finance stock opened at $8.15 on Wednesday. The firm has a market capitalization of $840.75 million, a P/E ratio of 54.33 and a beta of 0.59. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. New Mountain Finance has a twelve month low of $7.52 and a twelve month high of $11.46. The stock’s fifty day simple moving average is $8.66 and its 200-day simple moving average is $9.35.

New Mountain Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 15.7%. The ex-dividend date is Tuesday, March 17th. New Mountain Finance’s dividend payout ratio is currently 853.33%.

Insiders Place Their Bets

In related news, COO Laura C. Holson Boswerger bought 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $7.74 per share, with a total value of $96,750.00. Following the transaction, the chief operating officer directly owned 81,030 shares of the company’s stock, valued at approximately $627,172.20. This represents a 18.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

Several hedge funds have recently made changes to their positions in NMFC. Millennium Management LLC lifted its holdings in shares of New Mountain Finance by 36.9% in the 1st quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock valued at $7,843,000 after purchasing an additional 191,518 shares during the last quarter. Huntington National Bank increased its position in New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after buying an additional 3,433 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in New Mountain Finance in the second quarter valued at approximately $169,000. Acadian Asset Management LLC boosted its holdings in shares of New Mountain Finance by 266.7% in the second quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock valued at $3,647,000 after acquiring an additional 251,596 shares during the period. Finally, Vise Technologies Inc. purchased a new position in shares of New Mountain Finance during the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Company Profile

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.