New Mountain Finance (NASDAQ:NMFC) Reaches New 1-Year Low – Time to Sell?

New Mountain Finance Corporation (NASDAQ:NMFC) reached a new 52-week low on Wednesday . The stock traded as low as $7.69 and last traded at $7.8250, with a volume of 812818 shares traded. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NMFC shares. Keefe, Bruyette & Woods cut their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. B. Riley Financial reissued a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Finally, Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $10.17.

New Mountain Finance Stock Down 3.2%

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market capitalization of $814.76 million, a price-to-earnings ratio of 12.12 and a beta of 0.58. The firm’s fifty day moving average price is $8.81 and its 200-day moving average price is $9.45.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.28 annualized dividend and a yield of 16.2%. New Mountain Finance’s dividend payout ratio (DPR) is currently 196.92%.

Hedge Funds Weigh In On New Mountain Finance

Large investors have recently modified their holdings of the business. Mackenzie Financial Corp raised its position in New Mountain Finance by 3.7% during the 3rd quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock worth $302,000 after purchasing an additional 1,126 shares during the last quarter. Spire Wealth Management grew its position in shares of New Mountain Finance by 4.0% in the 2nd quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock valued at $414,000 after buying an additional 1,500 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of New Mountain Finance by 2.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock valued at $1,013,000 after buying an additional 2,634 shares during the period. Advyzon Investment Management LLC raised its position in shares of New Mountain Finance by 25.3% during the fourth quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after acquiring an additional 3,246 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of New Mountain Finance by 311.8% in the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares during the period. 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.