New Mountain Finance (NYSE:NMFC) Downgraded by TheStreet to C

New Mountain Finance (NYSE:NMFC) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.

Several other analysts have also weighed in on NMFC. Zacks Investment Research lowered New Mountain Finance from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. ValuEngine raised New Mountain Finance from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th.

Shares of NYSE:NMFC traded up $0.10 during trading on Friday, hitting $13.49. 130,530 shares of the stock were exchanged, compared to its average volume of 1,101,389. New Mountain Finance has a 1-year low of $12.06 and a 1-year high of $14.38. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.77 and a beta of 0.53. The company’s fifty day simple moving average is $13.51 and its 200-day simple moving average is $13.76. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.04 and a current ratio of 1.04.

In related news, CEO Robert Hamwee purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average price of $13.25 per share, with a total value of $265,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam Weinstein purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average cost of $13.25 per share, for a total transaction of $198,750.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 430,098 shares of company stock worth $6,165,569. 10.46% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. First Allied Advisory Services Inc. raised its position in New Mountain Finance by 51.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 29,121 shares of the investment management company’s stock valued at $399,000 after purchasing an additional 9,844 shares during the last quarter. Dean Capital Investments Management LLC raised its position in New Mountain Finance by 48.1% in the 3rd quarter. Dean Capital Investments Management LLC now owns 24,030 shares of the investment management company’s stock valued at $328,000 after purchasing an additional 7,802 shares during the last quarter. Alps Advisors Inc. raised its position in New Mountain Finance by 1,465.4% in the 3rd quarter. Alps Advisors Inc. now owns 289,600 shares of the investment management company’s stock valued at $3,947,000 after purchasing an additional 271,100 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in New Mountain Finance by 24.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 15,530 shares of the investment management company’s stock valued at $212,000 after purchasing an additional 3,085 shares during the last quarter. Finally, Sigma Planning Corp raised its position in New Mountain Finance by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 94,494 shares of the investment management company’s stock valued at $1,288,000 after purchasing an additional 1,778 shares during the last quarter. 35.38% 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.

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