Keefe, Bruyette & Woods Cuts New Mountain Finance (NASDAQ:NMFC) Price Target to $8.00

New Mountain Finance (NASDAQ:NMFC) had its price objective reduced by Keefe, Bruyette & Woods from $9.00 to $8.00 in a report issued on Monday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms have also commented on NMFC. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.08.

New Mountain Finance Stock Performance

Shares of NMFC opened at $6.92 on Monday. The firm has a market capitalization of $653.59 million, a P/E ratio of -11.93 and a beta of 0.55. New Mountain Finance has a 52 week low of $6.80 and a 52 week high of $10.77. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, May 4th. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $41.27 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities analysts forecast that New Mountain Finance will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors have recently modified their holdings of NMFC. US Bancorp DE bought a new stake in New Mountain Finance during the third quarter worth $48,000. Advisory Services Network LLC purchased a new position in New Mountain Finance in the third quarter worth $65,000. Sound Income Strategies LLC grew its stake in New Mountain Finance by 699.5% in the 4th quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock valued at $70,000 after purchasing an additional 6,722 shares during the period. State of Wyoming bought a new position in New Mountain Finance in the 1st quarter valued at $71,000. Finally, Catalyst Capital Advisors LLC bought a new position in New Mountain Finance in the 1st quarter valued at $93,000. 32.08% of the stock is owned by institutional investors.

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.