New Mountain Finance (NASDAQ:NMFC) PT Lowered to $11.00

New Mountain Finance (NASDAQ:NMFC) had its target price dropped by analysts at Wells Fargo & Company from $12.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 3.59% from the stock’s previous close.

New Mountain Finance Stock Performance

NASDAQ NMFC traded down $0.03 during trading on Tuesday, reaching $11.41. The company’s stock had a trading volume of 103,999 shares, compared to its average volume of 393,182. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.36 and a beta of 1.14. New Mountain Finance has a 12 month low of $11.40 and a 12 month high of $13.23. The firm has a 50 day moving average price of $11.96 and a 200 day moving average price of $12.26.

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

Hedge Funds Weigh In On New Mountain Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC acquired a new position in New Mountain Finance during the 3rd quarter worth approximately $169,000. Stephens Inc. AR increased its position in New Mountain Finance by 10.9% during the 3rd quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock worth $305,000 after purchasing an additional 2,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in New Mountain Finance by 54.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company’s stock worth $2,318,000 after purchasing an additional 67,990 shares in the last quarter. International Assets Investment Management LLC increased its position in New Mountain Finance by 1,017.3% during the 3rd quarter. International Assets Investment Management LLC now owns 374,487 shares of the company’s stock worth $4,486,000 after purchasing an additional 340,969 shares in the last quarter. Finally, Genesee Capital Advisors LLC acquired a new position in New Mountain Finance during the 3rd quarter worth approximately $198,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

About New Mountain Finance

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.