New Mountain Finance Corp. (NYSE:NMFC) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.50.
NMFC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered New Mountain Finance Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. boosted their target price on New Mountain Finance Corp. from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, Robert W. Baird lowered New Mountain Finance Corp. from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, July 14th.
Shares of New Mountain Finance Corp. (NYSE:NMFC) opened at 13.75 on Thursday. New Mountain Finance Corp. has a 12 month low of $10.87 and a 12 month high of $14.30. The company’s 50 day moving average price is $13.88 and its 200 day moving average price is $13.11.
New Mountain Finance Corp. (NYSE:NMFC) last issued its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. On average, analysts forecast that New Mountain Finance Corp. will post $1.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.34 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.36 annualized dividend and a dividend yield of 9.89%.
In other New Mountain Finance Corp. news, Director David Malpass sold 85,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $14.00, for a total value of $1,190,000.00. Following the sale, the director now directly owns 101,924 shares in the company, valued at $1,426,936. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Several institutional investors have recently made changes to their positions in NMFC. Green Square Capital LLC bought a new position in shares of New Mountain Finance Corp. during the second quarter valued at $199,000. Zacks Investment Management bought a new position in shares of New Mountain Finance Corp. during the second quarter valued at $217,000. Trexquant Investment LP boosted its position in shares of New Mountain Finance Corp. by 1.0% in the second quarter. Trexquant Investment LP now owns 20,900 shares of the investment management company’s stock valued at $270,000 after buying an additional 200 shares during the period. Commonwealth Equity Services Inc boosted its position in shares of New Mountain Finance Corp. by 18.5% in the first quarter. Commonwealth Equity Services Inc now owns 21,414 shares of the investment management company’s stock valued at $271,000 after buying an additional 3,350 shares during the period. Finally, Clinton Group Inc. boosted its position in shares of New Mountain Finance Corp. by 63.8% in the second quarter. Clinton Group Inc. now owns 22,612 shares of the investment management company’s stock valued at $292,000 after buying an additional 8,810 shares during the period.
New Mountain Finance Corp. Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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