New Mountain Finance (NMFC) Rating Increased to Hold at Zacks Investment Research

New Mountain Finance (NYSE:NMFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “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. It seeks to invest in United States. 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. “

A number of other analysts have also recently weighed in on the company. ValuEngine cut New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the stock a “hold” rating in a research report on Thursday, March 1st. Finally, TheStreet cut New Mountain Finance from a “b” rating to a “c+” rating in a research report on Wednesday, April 11th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.00.

NMFC opened at $13.60 on Thursday. New Mountain Finance has a 1 year low of $12.05 and a 1 year high of $14.70. The firm has a market cap of $1.03 billion, a P/E ratio of 10.54 and a beta of 0.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94.

New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings results on Monday, May 7th. The investment management company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. New Mountain Finance had a return on equity of 10.27% and a net margin of 49.57%. The company had revenue of $52.89 million during the quarter, compared to analysts’ expectations of $50.86 million. analysts predict that New Mountain Finance will post 1.37 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new stake in shares of New Mountain Finance in the fourth quarter worth about $210,000. LPL Financial LLC lifted its position in shares of New Mountain Finance by 23.7% during the 4th quarter. LPL Financial LLC now owns 21,846 shares of the investment management company’s stock worth $296,000 after purchasing an additional 4,191 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of New Mountain Finance during the 4th quarter worth about $2,954,000. Virtu Financial LLC acquired a new position in shares of New Mountain Finance during the 4th quarter worth about $238,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of New Mountain Finance by 211.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 265,216 shares of the investment management company’s stock worth $3,594,000 after purchasing an additional 180,026 shares during the last quarter. 38.83% of the stock is owned by institutional investors.

New Mountain Finance 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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