New Mountain Finance (NASDAQ:NMFC) Hits New 12-Month Low – Here’s What Happened

Shares of New Mountain Finance Corporation (NASDAQ:NMFC) reached a new 52-week low on Monday . The company traded as low as $8.60 and last traded at $8.6590, with a volume of 480890 shares trading hands. The stock had previously closed at $9.09.

Wall Street Analyst Weigh In

NMFC has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Zacks Research raised shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. New Street Research set a $10.00 target price on shares of New Mountain Finance in a report on Friday, October 10th. B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and an average target price of $10.17.

New Mountain Finance Price Performance

The firm has a market capitalization of $887.18 million, a P/E ratio of 13.23 and a beta of 0.58. The stock’s 50 day simple moving average is $9.30 and its 200 day simple moving average is $9.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.99 and a current ratio of 1.99.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.The firm had revenue of $80.53 million during the quarter, compared to analyst estimates of $83.91 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. New Mountain Finance’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently modified their holdings of NMFC. HB Wealth Management LLC purchased a new position in New Mountain Finance during the fourth quarter valued at approximately $933,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in New Mountain Finance by 64.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 344,000 shares of the company’s stock valued at $3,168,000 after acquiring an additional 134,500 shares in the last quarter. GraniteShares Advisors LLC increased its holdings in shares of New Mountain Finance by 8.0% in the 4th quarter. GraniteShares Advisors LLC now owns 293,799 shares of the company’s stock valued at $2,706,000 after acquiring an additional 21,843 shares during the period. CenterStar Asset Management LLC raised its position in shares of New Mountain Finance by 60.5% in the 4th quarter. CenterStar Asset Management LLC now owns 24,400 shares of the company’s stock worth $225,000 after acquiring an additional 9,200 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of New Mountain Finance by 13.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 690,497 shares of the company’s stock worth $6,359,000 after purchasing an additional 84,233 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.