New Mountain Finance (NASDAQ:NMFC) Sets New 12-Month Low – Here’s What Happened

New Mountain Finance Co. (NASDAQ:NMFC)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.52 and last traded at $11.53, with a volume of 65694 shares changing hands. The stock had previously closed at $11.57.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price objective on New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd.

New Mountain Finance Stock Performance

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 company has a market cap of $1.25 billion, a PE ratio of 10.54 and a beta of 1.14. The business’s 50 day moving average is $11.99 and its two-hundred day moving average is $12.28.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $94.59 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts anticipate that New Mountain Finance Co. will post 1.41 EPS for the current year.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new position in shares of New Mountain Finance during the first quarter worth $40,000. Quarry LP lifted its stake in New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after purchasing an additional 1,342 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of New Mountain Finance during the 1st quarter valued at about $52,000. Clearstead Trust LLC purchased a new position in shares of New Mountain Finance during the second quarter valued at about $98,000. Finally, Lazard Asset Management LLC bought a new stake in shares of New Mountain Finance in the first quarter worth about $126,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

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.