New Mountain Finance (NASDAQ:NMFC) Given New $11.00 Price Target at Keefe, Bruyette & Woods

New Mountain Finance (NASDAQ:NMFC - Get Free Report) had its target price cut by analysts at Keefe, Bruyette & Woods from $12.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 19.05% from the stock's current price.

New Mountain Finance Trading Down 0.8 %

NMFC traded down $0.07 during trading on Tuesday, reaching $9.24. 920,288 shares of the stock traded hands, compared to its average volume of 456,783. The stock's 50-day moving average is $11.11 and its 200 day moving average is $11.36. New Mountain Finance has a 12 month low of $8.84 and a 12 month high of $12.81. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $996.54 million, a PE ratio of 8.80 and a beta of 0.84.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $92.89 million for the quarter, compared to the consensus estimate of $93.23 million. Equities analysts anticipate that New Mountain Finance will post 1.39 earnings per share for the current year.

Insider Buying and Selling at New Mountain Finance

In other news, Director David Ogens purchased 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the acquisition, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.34% of the company's stock.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its holdings in New Mountain Finance by 23.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 313,430 shares of the company's stock worth $3,457,000 after buying an additional 59,249 shares during the last quarter. Merit Financial Group LLC increased its position in shares of New Mountain Finance by 0.4% during the first quarter. Merit Financial Group LLC now owns 260,572 shares of the company's stock worth $2,874,000 after acquiring an additional 1,052 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of New Mountain Finance by 2.1% in the 1st quarter. Confluence Investment Management LLC now owns 438,682 shares of the company's stock worth $4,839,000 after acquiring an additional 8,876 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new position in New Mountain Finance in the 4th quarter valued at about $607,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in New Mountain Finance in the 4th quarter valued at about $2,359,000. 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.