New Mountain Finance (NYSE:NMFC) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of New Mountain Finance (NYSE:NMFC) from a hold rating to a sell rating in a report issued on Thursday, ValuEngine reports.

A number of other research firms have also issued reports on NMFC. Wells Fargo & Co lowered their target price on New Mountain Finance from $14.50 to $8.00 and set an overweight rating for the company in a research note on Wednesday, March 25th. Bank of America began coverage on New Mountain Finance in a report on Monday, February 3rd. They issued a buy rating and a $14.50 price target for the company. Zacks Investment Research downgraded New Mountain Finance from a hold rating to a sell rating in a report on Thursday, March 12th. Deutsche Bank began coverage on New Mountain Finance in a report on Thursday, December 5th. They issued a buy rating and a $14.75 price target for the company. Finally, National Securities raised New Mountain Finance from a neutral rating to a buy rating in a report on Tuesday, March 17th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $13.06.

NYSE:NMFC traded down $0.04 on Thursday, hitting $5.02. 1,831,937 shares of the stock were exchanged, compared to its average volume of 1,186,249. The stock has a market cap of $534.51 million, a PE ratio of 4.02 and a beta of 1.11. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $10.76 and a 200-day moving average of $12.97. New Mountain Finance has a fifty-two week low of $4.62 and a fifty-two week high of $14.45.

New Mountain Finance (NYSE:NMFC) last posted its earnings results on Wednesday, February 26th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). New Mountain Finance had a net margin of 40.71% and a return on equity of 10.15%. The company had revenue of $73.26 million during the quarter, compared to analyst estimates of $75.81 million. As a group, analysts predict that New Mountain Finance will post 1.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 27.09%. The ex-dividend date was Thursday, March 12th. New Mountain Finance’s dividend payout ratio is presently 107.09%.

In related news, CAO Adam Weinstein purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $11.45 per share, with a total value of $286,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Stone purchased 3,200 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $13.02 per share, for a total transaction of $41,664.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 64,550 shares of company stock worth $692,921. 9.09% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC lifted its holdings in shares of New Mountain Finance by 24.0% in the 1st quarter. Foundations Investment Advisors LLC now owns 54,631 shares of the investment management company’s stock worth $326,000 after purchasing an additional 10,564 shares during the last quarter. Green Square Asset Management LLC lifted its holdings in shares of New Mountain Finance by 2.3% in the 4th quarter. Green Square Asset Management LLC now owns 98,790 shares of the investment management company’s stock worth $1,357,000 after purchasing an additional 2,200 shares during the last quarter. Verus Capital Partners LLC bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $61,000. Sunbelt Securities Inc. bought a new stake in shares of New Mountain Finance in the 4th quarter worth approximately $32,085,000. Finally, BCJ Capital Management LLC increased its position in New Mountain Finance by 6.2% in the 4th quarter. BCJ Capital Management LLC now owns 38,700 shares of the investment management company’s stock valued at $532,000 after acquiring an additional 2,268 shares during the period. 36.90% 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 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.

See Also: Net Asset Value

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