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

Shares of New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) 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 traded. The stock had previously closed at $11.44.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management lifted its position in New Mountain Finance by 0.7% during the second quarter. LSV Asset Management now owns 2,548,475 shares of the company's stock valued at $31,193,000 after acquiring an additional 17,300 shares during the last quarter. Van ECK Associates Corp lifted its position in New Mountain Finance by 21.6% during the second quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company's stock valued at $25,467,000 after acquiring an additional 369,695 shares during the last quarter. Millennium Management LLC lifted its position in New Mountain Finance by 5.4% during the second quarter. Millennium Management LLC now owns 456,811 shares of the company's stock valued at $5,591,000 after acquiring an additional 23,406 shares during the last quarter. Confluence Investment Management LLC lifted its position in New Mountain Finance by 2.2% during the second quarter. Confluence Investment Management LLC now owns 423,578 shares of the company's stock valued at $5,185,000 after acquiring an additional 9,296 shares during the last quarter. Finally, Tranquility Partners LLC lifted its position in New Mountain Finance by 37.2% during the second quarter. Tranquility Partners LLC now owns 388,753 shares of the company's stock valued at $4,763,000 after acquiring an additional 105,433 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Price Performance

The stock's 50-day moving average is $11.96 and its 200 day moving average is $12.26. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $1.23 billion, a PE ratio of 10.37 and a beta of 1.14.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.36. The business had revenue of $94.59 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.39 earnings per share. On average, equities analysts anticipate that New Mountain Finance Co. will post 1.41 earnings per share 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.