NMFC Stock Moves Higher Ahead of Open as New Mountain Finance Buyback Faces Private Credit Trial
New Mountain Finance Corp. is coming into Thursday’s Nasdaq open after gaining 2.1%, but the stock is still trading well under its latest book value. Shares finished Wednesday at $8.12. Nasdaq’s regular session is 9:30 a.m. to 4 p.m. Eastern, and premarket starts at 4 a.m. Discount is the main story now. NMFC last reported net asset value at $10.92 per share as of March 31, which puts the shares trading about 26% below NAV. Management has room with the buyback to create value, but investors are still pricing NMFC as a risk trade and not only for its income.