New Mountain Finance Corp. (NMFC) Receives Consensus Rating of “Buy” from Brokerages

New Mountain Finance Corp. (NYSE:NMFC) has been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.67.

A number of research firms recently commented on NMFC. Zacks Investment Research raised New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, November 14th. TheStreet cut New Mountain Finance from a “b-” rating to a “c” rating in a research note on Friday, November 9th. ValuEngine raised New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. Finally, Wells Fargo & Co reduced their target price on New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, October 4th.

NMFC opened at $13.24 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 9.82 and a beta of 0.53. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.31. New Mountain Finance has a 52 week low of $12.05 and a 52 week high of $14.38.

New Mountain Finance (NYSE:NMFC) last released its earnings results on Wednesday, November 7th. The investment management company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.03). The firm had revenue of $60.47 million during the quarter, compared to the consensus estimate of $55.38 million. New Mountain Finance had a net margin of 45.47% and a return on equity of 10.18%. As a group, sell-side analysts anticipate that New Mountain Finance will post 1.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.36 dividend on an annualized basis and a yield of 10.27%. New Mountain Finance’s dividend payout ratio is presently 105.43%.

In related news, insider John Kline acquired 17,250 shares of New Mountain Finance stock in a transaction dated Wednesday, September 12th. The shares were purchased at an average cost of $13.77 per share, with a total value of $237,532.50. Following the completion of the purchase, the insider now owns 81,030 shares of the company’s stock, valued at $1,115,783.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 10.27% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of New Mountain Finance during the third quarter valued at about $386,000. AJ Wealth Strategies LLC bought a new position in shares of New Mountain Finance during the third quarter valued at about $180,000. Wedbush Securities Inc. grew its stake in shares of New Mountain Finance by 37.9% during the third quarter. Wedbush Securities Inc. now owns 28,650 shares of the investment management company’s stock valued at $387,000 after buying an additional 7,875 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of New Mountain Finance during the third quarter valued at about $271,000. Finally, GSA Capital Partners LLP grew its stake in shares of New Mountain Finance by 143.5% during the third quarter. GSA Capital Partners LLP now owns 48,382 shares of the investment management company’s stock valued at $653,000 after buying an additional 28,513 shares during the last quarter. 36.28% of the stock is currently owned by hedge funds and other institutional investors.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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