New Mountain Finance Corp. (NMFC) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $13. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Jul 14, 2016.
New Mountain Finance Corp. closed down -0.02 points or -0.15% at $13.42 with 2,44,903 shares getting traded on Wednesday. Post opening the session at $13.44, the shares hit an intraday low of $13.36 and an intraday high of $13.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 24, 2016, James Stone (Section 16 Officer) purchased 2,000 shares at $12.35 per share price. According to the SEC, 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.