New Mountain Finance (NASDAQ:NMFC) Reaches New 1-Year Low Following Analyst Downgrade

New Mountain Finance Co. (NASDAQ:NMFC) hit a new 52-week low 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.

Hedge Funds Weigh In On New Mountain Finance

Large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in New Mountain Finance by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock worth $3,809,000 after buying an additional 44,114 shares during the period. Condor Capital Management grew its position in shares of New Mountain Finance by 28.2% in the second quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after purchasing an additional 76,739 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of 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 valued at $2,318,000 after purchasing an additional 67,990 shares during the period. Lazard Asset Management LLC purchased a new stake in New Mountain Finance during the 1st quarter worth about $126,000. Finally, First National Trust Co bought a new position in New Mountain Finance in the 2nd quarter worth about $974,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Down 0.5 %

The firm has a market cap of $1.23 billion, a PE ratio of 10.37 and a beta of 1.14. 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 stock has a fifty day simple moving average of $11.96 and a two-hundred day simple moving average of $12.26.

New Mountain Finance (NASDAQ:NMFC) last posted 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 for the quarter, compared to analyst estimates of $90.25 million. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, sell-side 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.