New Mountain Finance Corporation (NYSE:NMFC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of New Mountain Finance Corporation (NYSE:NMFC) from a hold rating to a buy rating in a report published on Wednesday, July 12th. Zacks Investment Research currently has $16.00 target price on the investment management company’s stock.

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. “

Separately, Keefe, Bruyette & Woods set a $15.00 price objective on New Mountain Finance Corporation and gave the stock a hold rating in a report on Wednesday, May 31st.

Shares of New Mountain Finance Corporation (NMFC) traded down 1.03% during mid-day trading on Wednesday, hitting $14.35. The stock had a trading volume of 313,742 shares. The firm has a 50 day moving average price of $14.42 and a 200-day moving average price of $14.59. New Mountain Finance Corporation has a 12 month low of $13.05 and a 12 month high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last announced its earnings results on Monday, May 8th. The investment management company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. New Mountain Finance Corporation had a return on equity of 10.06% and a net margin of 78.68%. The business had revenue of $43.31 million for the quarter, compared to analyst estimates of $44.09 million. On average, equities analysts forecast that New Mountain Finance Corporation will post $1.36 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by BBNS and is the property of of BBNS. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://baseballnewssource.com/markets/new-mountain-finance-corporation-nysenmfc-upgraded-at-zacks-investment-research-updated-updated-updated/1180471.html.

In other news, CFO Shiraz Kajee purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average cost of $14.63 per share, for a total transaction of $29,260.00. Following the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $29,260. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Ogens purchased 3,600 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $14.37 per share, for a total transaction of $51,732.00. Following the completion of the purchase, the director now owns 49,654 shares in the company, valued at $713,527.98. The disclosure for this purchase can be found here. 9.73% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in New Mountain Finance Corporation by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 15,535 shares of the investment management company’s stock worth $231,000 after buying an additional 125 shares during the period. Green Square Capital LLC increased its position in New Mountain Finance Corporation by 1.6% in the first quarter. Green Square Capital LLC now owns 24,994 shares of the investment management company’s stock worth $372,000 after buying an additional 401 shares during the period. CWA Asset Management Group LLC increased its position in New Mountain Finance Corporation by 4.3% in the first quarter. CWA Asset Management Group LLC now owns 18,350 shares of the investment management company’s stock worth $273,000 after buying an additional 750 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in New Mountain Finance Corporation by 5.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,030 shares of the investment management company’s stock worth $212,000 after buying an additional 751 shares during the period. Finally, Perennial Advisors LLC increased its position in New Mountain Finance Corporation by 2.9% in the first quarter. Perennial Advisors LLC now owns 38,510 shares of the investment management company’s stock worth $574,000 after buying an additional 1,080 shares during the period. Hedge funds and other institutional investors own 39.24% of the company’s stock.

New Mountain Finance Corporation 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.

Get a free copy of the Zacks research report on New Mountain Finance Corporation (NMFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for New Mountain Finance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets


Leave a Reply

 
© 2006-2017 BBNS.