New Mountain Finance (NMFC) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of New Mountain Finance (NYSE:NMFC) from a hold rating to a buy rating in a research note published on Thursday, November 9th.

Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded New Mountain Finance from a hold rating to a sell rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods restated a hold rating and set a $15.00 target price on shares of New Mountain Finance in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded New Mountain Finance from a hold rating to a buy rating and set a $16.00 target price on the stock in a research report on Wednesday, July 12th.

New Mountain Finance (NYSE NMFC) traded up $0.10 during midday trading on Thursday, hitting $14.30. The company had a trading volume of 202,887 shares, compared to its average volume of 341,630. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 0.81. New Mountain Finance has a 52-week low of $13.40 and a 52-week high of $15.00. The firm has a market cap of $1,084.01, a P/E ratio of 10.59 and a beta of 0.59.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.51%. New Mountain Finance’s dividend payout ratio is currently 90.07%.

In other news, CFO Shiraz Kajee purchased 2,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $28,160.00. Following the acquisition, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $56,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.73% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of New Mountain Finance by 9.0% in the second quarter. Royal Bank of Canada now owns 352,817 shares of the investment management company’s stock worth $5,134,000 after acquiring an additional 29,189 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of New Mountain Finance by 25.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 572,991 shares of the investment management company’s stock worth $8,165,000 after acquiring an additional 117,223 shares in the last quarter. Round Table Services LLC grew its stake in shares of New Mountain Finance by 22.7% in the second quarter. Round Table Services LLC now owns 1,300,398 shares of the investment management company’s stock worth $18,921,000 after acquiring an additional 240,229 shares in the last quarter. Capital Fund Management S.A. grew its stake in shares of New Mountain Finance by 94.3% in the second quarter. Capital Fund Management S.A. now owns 96,938 shares of the investment management company’s stock worth $1,410,000 after acquiring an additional 47,038 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of New Mountain Finance by 54.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,191 shares of the investment management company’s stock worth $352,000 after purchasing an additional 8,516 shares during the last quarter. Institutional investors and hedge funds own 39.49% of the company’s stock.

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About New Mountain Finance

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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