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

New Mountain Finance Corporation (NASDAQ:NMFC) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $6.73 and last traded at $6.8050, with a volume of 401467 shares changing hands. The stock had previously closed at $6.92.

Analyst Ratings Changes

Several research analysts recently weighed in on NMFC shares. Wall Street Zen upgraded shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings cut New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Finally, Keefe, Bruyette & Woods dropped their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Monday. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $9.08.

New Mountain Finance Stock Performance

The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.26. The company has a market cap of $644.62 million, a price-to-earnings ratio of -11.76 and a beta of 0.55. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.02.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, May 4th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. New Mountain Finance had a positive return on equity of 11.14% and a negative net margin of 18.65%.The business had revenue of $41.27 million during the quarter, compared to the consensus estimate of $67.76 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was down 19.7% on a year-over-year basis. Analysts predict that New Mountain Finance Corporation will post 1.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management grew its holdings in 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 purchasing an additional 353,062 shares during the period. JPMorgan Chase & Co. boosted its position in shares of New Mountain Finance by 27.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after purchasing an additional 443,016 shares in the last quarter. UBS Group AG boosted its position 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 purchasing an additional 385,891 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of New Mountain Finance in the 4th quarter valued at $12,326,000. Finally, Invesco Ltd. grew its holdings in shares of New Mountain Finance by 18.5% in the 3rd quarter. Invesco Ltd. now owns 1,219,813 shares of the company’s stock valued at $11,759,000 after buying an additional 190,152 shares during the period. Institutional investors own 32.08% of the company’s stock.

About New Mountain Finance

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.