B. Riley begins coverage of New Mountain Finance (NASDAQ:NMFC)

B. Riley Research Analysts assumed coverage of the shares of New Mountain Finance (NASDAQ: NMFC – Get Rated) in a research report issued to clients and investors on Friday, reports Marketbeat. The firm set a “neutral” rating on the stock.

Separately, Hovde Group cut its price target on New Mountain Finance shares to $12.50 in a research note on Wednesday, Oct. 5.

New Mountain Finance Price Performance

NASDAQ NMFC shares rose $0.07 during trading hours on Friday, reaching $11.86. 2,590 shares of the stock traded by hand, compared to its average volume of 358,783. The company has a market cap of $1.19 billion, a P/E ratio of 9.74, and a beta of 1.17. The company has a quick ratio of 1.97, a current ratio of 1.97, and a debt-to-equity ratio of 1.46. New Mountain Finance has a 52-week low of $11.09 and a 52-week high of $14.11. The company’s 50-day simple moving average is $12.71 and its 200-day simple moving average is $12.48.

New Mountain Finance (NASDAQ: NMFC – Get Rated) last announced its quarterly earnings data on Monday, August 8. The company reported earnings per share of $0.31 for the quarter, beating analyst consensus estimates of $0.30 by $0.01. New Mountain Finance had a return on equity of 9.15% and a net margin of 45.29%. The company had revenue of $73.11 million in the quarter, compared to analyst expectations of $70.64 million. Stock research analysts are forecasting that New Mountain Finance will post 1.23 EPS for the current year.

Hedge funds weigh on New Mountain Finance

Hedge funds have recently changed their holdings in the company. Lazard Asset Management LLC purchased a new stake in New Mountain Finance in the first quarter for approximately $29,000. Cornerstone Advisory LLC purchased a new position in New Mountain Finance during the fourth quarter valued at $40,000. ACG Wealth purchased a new position in New Mountain Finance during the second quarter valued at $39,000. Point72 Hong Kong Ltd bought a new stake in New Mountain Finance in the second quarter worth around $49,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in New Mountain Finance in the first quarter for approximately $74,000. Hedge funds and other institutional investors own 31.74% of the company’s shares.

New Mountain Finance Company Profile

(Get rating)

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company, is a private equity/buyout and loan fund that specializes in investing and lending directly to middle-market companies in defensive growth industries. The fund prefers to invest 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 intermediate securities.

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