New Mountain Finance (NASDAQ:NMFC) Sets New 12-Month Low – Here’s Why

New Mountain Finance Co. (NASDAQ:NMFC) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.60 and last traded at $11.62, with a volume of 99236 shares changing hands. The stock had previously closed at $11.67.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on shares of New Mountain Finance from $12.50 to $12.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd.

New Mountain Finance Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $1.25 billion, a PE ratio of 10.51 and a beta of 1.14. The business’s 50-day moving average is $12.04 and its 200 day moving average is $12.32.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, July 31st. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. The company had revenue of $94.59 million during the quarter, compared to analyst estimates of $90.25 million. During the same quarter in the previous year, the company posted $0.39 EPS. On average, equities research analysts predict that New Mountain Finance Co. will post 1.41 EPS for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend was Monday, September 16th. New Mountain Finance’s dividend payout ratio is 115.32%.

Institutional Investors Weigh In On New Mountain Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its position in shares of New Mountain Finance by 19.8% in the third quarter. Inspire Investing LLC now owns 34,267 shares of the company’s stock valued at $411,000 after acquiring an additional 5,668 shares during the period. Sanctuary Advisors LLC purchased a new stake in New Mountain Finance in the second quarter worth $404,000. Quarry LP increased its position in shares of New Mountain Finance by 68.3% during the second quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after buying an additional 1,342 shares during the period. Creative Planning grew its holdings in shares of New Mountain Finance by 107.4% during the 2nd quarter. Creative Planning now owns 26,455 shares of the company’s stock worth $324,000 after acquiring an additional 13,702 shares during the period. Finally, Millennium Management LLC boosted its position in shares of New Mountain Finance by 5.4% during the second quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock valued at $5,591,000 after purchasing an additional 23,406 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors.

About New Mountain Finance

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.