NMFC Stock Moves Higher Ahead of Open as New Mountain Finance Buyback Faces Private Credit Trial
New Mountain Finance Corp. closed Wednesday at $8.12, about 26% below its March 31 net asset value of $10.92 per share. The company reported Q1 adjusted net investment income of $32.2 million and declared a 25-cent quarterly distribution. NMFC cut statutory debt-to-equity to 1.12 times and completed a $470 million portfolio sale. Analysts’ average price target stands at $8.54, with most holding a neutral view.