Baird Downgrades New Mountain Finance Corp. to Neutral

Brokerage firm Baird Downgrades its rating on New Mountain Finance Corp.(NYSE:NMFC). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Jul 14, 2016.

In a different note, On Apr 27, 2016, Janney Capital said it Assumes its rating on New Mountain Finance Corp.. The shares have been rated ‘Neutral’ by the firm.

New Mountain Finance Corp. (NMFC) made into the market gainers list on Mondays trading session with the shares advancing 1.22% or 0.16 points. Due to strong positive momentum, the stock ended at $13.27, which is also near the day’s high of $13.36. The stock began the session at $13.05 and the volume stood at 3,06,585 shares. The 52-week high of the shares is $15.0299 and the 52 week low is $10.87. The company has a current market capitalization of $848 M and it has 6,38,80,437 shares in outstanding.

New Mountain Finance Corp.(NMFC) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $40.98M. Analysts had an estimated revenue of $42.04M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, James Stone (Section 16 Officer) purchased 2,000 shares at $12.35 per share price.Also, On Feb 22, 2016, Steven B Klinsky (director) purchased 64,539 shares at $12.05 per share price.On Feb 10, 2016, Adam Weinstein (EVP, CAO and Director) purchased 2,600 shares at $11.42 per share price, according to the Form-4 filing with the securities and exchange commission.

New Mountain Finance Corporation (NMFC) 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. In some cases the Company’s investments may also include equity interests such as preferred stock common stock warrants or options received in connection with the Company’s debt investments or may include a direct investment in the equity of private companies. The Company makes investments through both primary originations and open-market secondary purchases. The Company’s focused investments have maturities of between five and ten years and range in size between $10.0 million and $50.0 million. The New Mountain Finance Advisers BDC L.L.C. (the Investment Adviser) acts as the investment adviser of the Company.

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