Wells Fargo & Company Lowers New Mountain Finance (NASDAQ:NMFC) Price Target to $8.00

New Mountain Finance (NASDAQ:NMFC) had its price target cut by stock analysts at Wells Fargo & Company from $10.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.58% from the stock’s current price.

NMFC has been the subject of several other reports. B. Riley Financial reiterated a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods dropped their target price on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, New Mountain Finance presently has a consensus rating of “Reduce” and a consensus price target of $9.83.

New Mountain Finance Stock Down 0.8%

Shares of NMFC opened at $7.65 on Thursday. The company has a quick ratio of 1.99, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $9.40. The stock has a market cap of $789.17 million, a price-to-earnings ratio of 51.00 and a beta of 0.58. New Mountain Finance has a 12 month low of $7.53 and a 12 month high of $11.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NMFC. LSV Asset Management lifted its stake in shares of New Mountain Finance by 13.4% during the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock valued at $27,508,000 after acquiring an additional 353,062 shares during the period. Van ECK Associates Corp grew its position in shares of New Mountain Finance by 4.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock worth $24,966,000 after buying an additional 115,004 shares during the period. JPMorgan Chase & Co. grew its position in shares of New Mountain Finance by 27.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after buying an additional 443,016 shares during the period. UBS Group AG raised its stake in shares of New Mountain Finance by 33.4% during the fourth quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock worth $14,194,000 after buying an additional 385,891 shares during the last quarter. Finally, Rivernorth Capital Management LLC acquired a new position in New Mountain Finance in the fourth quarter valued at approximately $12,326,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

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.