Hovde Group Raises New Mountain Finance (NASDAQ:NMFC) Price Target to $13.00

New Mountain Finance (NASDAQ:NMFC – Get Rating) had its price objective lifted by Hovde Group to $13.00 in a report released on Monday, Stock Target Advisor reports.

New Mountain Finance Stock Up 0.3 %

Shares of NASDAQ:NMFC opened at $13.49 on Monday. The business’s 50-day moving average is $12.78 and its 200-day moving average is $12.54. New Mountain Finance has a 1 year low of $11.09 and a 1 year high of $14.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.15 and a beta of 1.20.

New Mountain Finance (NASDAQ:NMFC – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $73.11 million during the quarter, compared to analyst estimates of $70.64 million. New Mountain Finance had a return on equity of 9.15% and a net margin of 45.29%. Equities research analysts predict that New Mountain Finance will post 1.23 earnings per share for the current year.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.90%. New Mountain Finance’s dividend payout ratio (DPR) is presently 99.17%.

Insider Activity at New Mountain Finance

In related news, insider Joseph Hartswell acquired 4,500 shares of New Mountain Finance stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $12.65 per share, with a total value of $56,925.00. Following the completion of the purchase, the insider now owns 10,143 shares of the company’s stock, valued at $128,308.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other New Mountain Finance news, insider Joseph Hartswell bought 4,500 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average cost of $12.65 per share, with a total value of $56,925.00. Following the completion of the purchase, the insider now directly owns 10,143 shares of the company’s stock, valued at $128,308.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam Weinstein acquired 25,000 shares of the stock in a transaction on Friday, May 20th. The stock was bought at an average price of $12.50 per share, with a total value of $312,500.00. Following the completion of the acquisition, the chief accounting officer now directly owns 366,398 shares of the company’s stock, valued at $4,579,975. The disclosure for this purchase can be found here. Insiders have bought a total of 53,500 shares of company stock valued at $651,985 over the last 90 days. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Mountain Finance

A number of large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in New Mountain Finance in the 2nd quarter worth approximately $49,000. Cubist Systematic Strategies LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $234,000. Millennium Management LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $2,450,000. Sei Investments Co. bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $284,000. Finally, Quantbot Technologies LP bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $150,000. Institutional investors own 30.15% of the company’s stock.

About New Mountain Finance

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New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes and mezzanine securities.