New Mountain Finance (NASDAQ:NMFC) Hits New 1-Year Low - Here's Why

New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $10.95 and last traded at $10.98, with a volume of 160234 shares traded. The stock had previously closed at $11.10.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price target on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th.

New Mountain Finance Trading Down 2.7 %

The company has a 50 day moving average of $11.85 and a two-hundred day moving average of $12.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.75 and a current ratio of 2.23. The stock has a market capitalization of $1.16 billion, a PE ratio of 10.29 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $95.33 million for the quarter, compared to analysts' expectations of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Sell-side analysts predict that New Mountain Finance Co. will post 1.41 EPS for the current year.

New Mountain Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 12.22%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's payout ratio is 121.91%.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Oak Family Advisors LLC lifted its holdings in shares of New Mountain Finance by 0.7% in the 2nd quarter. Oak Family Advisors LLC now owns 150,384 shares of the company's stock valued at $1,841,000 after buying an additional 1,020 shares during the period. Quarry LP lifted its holdings in shares of New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company's stock valued at $40,000 after buying an additional 1,342 shares during the period. ProShare Advisors LLC lifted its holdings in shares of New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company's stock valued at $165,000 after buying an additional 1,800 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of New Mountain Finance by 0.7% in the 3rd quarter. Lindbrook Capital LLC now owns 325,365 shares of the company's stock valued at $3,898,000 after buying an additional 2,389 shares during the period. Finally, Stephens Inc. AR lifted its holdings in shares of New Mountain Finance by 10.9% in the 3rd quarter. Stephens Inc. AR now owns 25,500 shares of the company's stock valued at $305,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 32.08% of the company's stock.

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.