New Mountain Finance (NASDAQ:NMFC) Sets New 12-Month Low - What's Next?

New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $8.84 and last traded at $9.87, with a volume of 1265216 shares changing hands. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their target price on shares of New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.

New Mountain Finance Price Performance

The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $1.02 billion, a P/E ratio of 8.97 and a beta of 0.84. The company has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $11.33.

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

New Mountain Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 13.57%. The ex-dividend date was Monday, March 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.

Insider Transactions at New Mountain Finance

In related news, Director David Ogens acquired 5,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the purchase, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NMFC. BNP Paribas Financial Markets bought a new position in New Mountain Finance during the third quarter worth about $26,000. Fox Run Management L.L.C. acquired a new position in shares of New Mountain Finance during the 4th quarter worth approximately $114,000. MQS Management LLC bought a new position in shares of New Mountain Finance during the fourth quarter worth approximately $123,000. Larson Financial Group LLC raised its position in shares of New Mountain Finance by 4,746.5% in the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock valued at $123,000 after buying an additional 10,727 shares in the last quarter. Finally, New World Advisors LLC bought a new stake in shares of New Mountain Finance in the fourth quarter valued at approximately $147,000. 32.08% of the stock is currently owned by institutional investors.

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.