New Mountain Finance (NASDAQ:NMFC) PT Lowered to $11.00 at Wells Fargo & Company

New Mountain Finance (NASDAQ:NMFC - Free Report) had its price target trimmed by Wells Fargo & Company from $12.00 to $11.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

New Mountain Finance Stock Down 0.5 %

Shares of NMFC stock traded down $0.06 during trading hours on Tuesday, reaching $11.38. 616,485 shares of the stock were exchanged, compared to its average volume of 395,634. The business's fifty day moving average is $11.94 and its two-hundred day moving average is $12.25. The firm has a market capitalization of $1.23 billion, a P/E ratio of 10.35 and a beta of 1.14. New Mountain Finance has a 12-month low of $11.34 and a 12-month high of $13.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, meeting analysts' consensus estimates of $0.36. The company had revenue of $94.59 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.39 EPS. As a group, research analysts expect that New Mountain Finance will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 purchasing an additional 1,020 shares during the last quarter. Quarry LP lifted its stake in New Mountain Finance by 68.3% in the second 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 last quarter. ProShare Advisors LLC boosted its holdings in shares of New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company's stock valued at $165,000 after acquiring an additional 1,800 shares during the period. Stephens Inc. AR grew its position in shares of New Mountain Finance by 10.9% during the third quarter. Stephens Inc. AR now owns 25,500 shares of the company's stock worth $305,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in shares of New Mountain Finance by 9.1% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 30,742 shares of the company's stock valued at $376,000 after acquiring an additional 2,571 shares during the period. 32.08% of the stock is owned by institutional investors and hedge funds.

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.