New Mountain Finance (NASDAQ:NMFC) Reaches New 12-Month Low on Analyst Downgrade

New Mountain Finance Co. (NASDAQ:NMFC) shares hit a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $12.00 to $11.00. Wells Fargo & Company currently has an equal weight rating on the stock. New Mountain Finance traded as low as $11.40 and last traded at $11.43, with a volume of 27148 shares changing hands. The stock had previously closed at $11.44.

Institutional Investors Weigh In On New Mountain Finance

Hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. bought a new stake in shares of New Mountain Finance in the 1st quarter valued at about $40,000. Quarry LP lifted its stake in shares of New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after acquiring an additional 1,342 shares during the period. EntryPoint Capital LLC acquired a new position in shares of New Mountain Finance in the first quarter worth approximately $52,000. Clearstead Trust LLC bought a new stake in New Mountain Finance in the second quarter valued at approximately $98,000. Finally, Lazard Asset Management LLC acquired a new stake in New Mountain Finance during the 1st quarter valued at approximately $126,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

New Mountain Finance Trading Down 0.4 %

The stock has a market cap of $1.22 billion, a P/E ratio of 10.30 and a beta of 1.14. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75. The firm’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $12.24.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. During the same period in the previous year, the company posted $0.39 earnings per share. Equities research analysts expect that New Mountain Finance Co. will post 1.41 EPS for the current fiscal year.

New Mountain Finance Company Profile

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