New Mountain Finance Corporation (NASDAQ:NMFC) Stock Has Average Price Target of $7.67 According to Brokerages

New Mountain Finance Corporation (NASDAQ:NMFC) has been given a consensus rating of “Reduce” by the five analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.67.

NMFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. 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. Finally, Weiss Ratings downgraded New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th.

New Mountain Finance Trading Down 2.2%

Shares of New Mountain Finance stock opened at $6.74 on Tuesday. New Mountain Finance has a 52-week low of $6.60 and a 52-week high of $9.84. 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’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $7.52. The firm has a market cap of $636.59 million, a price-to-earnings ratio of -14.34 and a beta of 0.60.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. New Mountain Finance had a negative net margin of 16.78% and a positive return on equity of 10.94%. The firm had revenue of $39.02 million during the quarter, compared to the consensus estimate of $62.78 million. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, equities research analysts anticipate that New Mountain Finance will post 1.10 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.25 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.8%. New Mountain Finance’s dividend payout ratio (DPR) is currently -212.77%.

Institutional Trading of New Mountain Finance

Large investors have recently modified their holdings of the business. Van ECK Associates Corp increased 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 worth $15,380,000 after purchasing an additional 348,872 shares in the last quarter. Corient Private Wealth LP increased its stake in New Mountain Finance by 29.2% in the second quarter. Corient Private Wealth LP now owns 1,125,657 shares of the company’s stock valued at $8,071,000 after purchasing an additional 254,361 shares during the last quarter. Corient Private Wealth LLC acquired a new position in New Mountain Finance in the fourth quarter valued at $7,450,000. Tranquility Partners LLC lifted its position in New Mountain Finance by 18.2% during the first quarter. Tranquility Partners LLC now owns 316,752 shares of the company’s stock worth $2,458,000 after buying an additional 48,679 shares during the period. Finally, Confluence Investment Management LLC lifted its position in New Mountain Finance by 2.1% during the third quarter. Confluence Investment Management LLC now owns 283,303 shares of the company’s stock worth $1,960,000 after buying an additional 5,694 shares during the period. 32.08% of the stock is currently owned by institutional investors and hedge funds.

About New Mountain Finance

New Mountain Finance Corporation is a business development company (BDC) that provides financing to established middle-market companies. The company primarily invests in privately held businesses through senior secured loans, unitranche loans, subordinated debt and other debt securities, and may also make equity investments.

New Mountain Finance generally focuses on companies with strong market positions, recurring revenue and experienced management teams. Its investments span a range of industries and are intended to support acquisitions, recapitalizations, growth initiatives and other corporate purposes.