New Mountain Finance (NASDAQ:NMFC) Reaches New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their target price on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a report 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 business’s 50 day moving average is $12.01 and its two-hundred day moving average is $12.29. The company has a market cap of $1.24 billion, a PE ratio of 10.42 and a beta of 1.14.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 EPS 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 business had revenue of $94.59 million during the quarter, compared to analysts’ expectations of $90.25 million. During the same period last year, the company posted $0.39 EPS. On average, equities research analysts anticipate that New Mountain Finance Co. will post 1.41 EPS for the current year.

Institutional Trading of New Mountain Finance

A number of institutional investors have recently bought and sold shares of NMFC. Hennion & Walsh Asset Management Inc. raised its position in New Mountain Finance by 54.2% in 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 during the period. International Assets Investment Management LLC grew its position in New Mountain Finance by 1,017.3% in the 3rd quarter. International Assets Investment Management LLC now owns 374,487 shares of the company’s stock valued at $4,486,000 after acquiring an additional 340,969 shares during the last quarter. Genesee Capital Advisors LLC bought a new stake in shares of New Mountain Finance during the third quarter worth $198,000. Inspire Investing LLC lifted its position in shares of New Mountain Finance by 19.8% during the third quarter. Inspire Investing LLC now owns 34,267 shares of the company’s stock worth $411,000 after purchasing an additional 5,668 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of New Mountain Finance during the second quarter valued at $404,000. 32.08% of the stock is currently owned by 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.