New Mountain Finance (NYSE:NMFC) Upgraded by ValuEngine to “Hold”

New Mountain Finance (NYSE:NMFC) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research report on Tuesday.

Shares of NMFC opened at $13.52 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average is $13.50 and its two-hundred day moving average is $13.78. New Mountain Finance has a twelve month low of $12.06 and a twelve month high of $14.38. The firm has a market capitalization of $1.18 billion, a P/E ratio of 9.80 and a beta of 0.53.

New Mountain Finance (NYSE:NMFC) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. New Mountain Finance had a net margin of 36.54% and a return on equity of 10.47%. The company had revenue of $66.47 million for the quarter, compared to analyst estimates of $64.98 million. Analysts predict that New Mountain Finance will post 1.39 EPS for the current year.

In other New Mountain Finance news, CFO Shiraz Kajee purchased 2,500 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $13.38 per share, for a total transaction of $33,450.00. Following the completion of the transaction, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at $100,350. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CAO Adam Weinstein purchased 9,350 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $13.34 per share, for a total transaction of $124,729.00. The disclosure for this purchase can be found here. Insiders bought 22,200 shares of company stock worth $297,792 over the last quarter. Company insiders own 10.27% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Dimension Capital Management LLC grew its position in shares of New Mountain Finance by 43.4% in the second quarter. Dimension Capital Management LLC now owns 1,570,752 shares of the investment management company’s stock valued at $21,947,000 after purchasing an additional 475,629 shares during the last quarter. Round Table Services LLC grew its position in shares of New Mountain Finance by 4.9% in the second quarter. Round Table Services LLC now owns 1,533,784 shares of the investment management company’s stock valued at $21,427,000 after purchasing an additional 71,950 shares during the last quarter. Bank of Montreal Can grew its position in shares of New Mountain Finance by 5.2% in the second quarter. Bank of Montreal Can now owns 794,000 shares of the investment management company’s stock valued at $11,092,000 after purchasing an additional 39,000 shares during the last quarter. UBS Group AG grew its position in shares of New Mountain Finance by 5.1% in the second quarter. UBS Group AG now owns 707,839 shares of the investment management company’s stock valued at $9,889,000 after purchasing an additional 34,210 shares during the last quarter. Finally, Cliffwater LLC grew its position in shares of New Mountain Finance by 10.1% in the second quarter. Cliffwater LLC now owns 689,954 shares of the investment management company’s stock valued at $9,639,000 after purchasing an additional 63,537 shares during the last quarter. Institutional investors and hedge funds own 34.66% of the company’s stock.

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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