New Mountain Finance (NASDAQ:NMFC) Sets New 52-Week Low – Here’s Why

New Mountain Finance Corporation (NASDAQ:NMFC) reached a new 52-week low during trading on Monday. The company traded as low as $6.60 and last traded at $6.5930, with a volume of 71,452 shares changing hands. The stock had previously closed at $6.74.

Wall Street Analysts Forecast Growth

NMFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, July 20th. Wells Fargo & Company decreased their target price on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings cut New Mountain Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $7.67.

New Mountain Finance Trading Down 0.6%

The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $620.54 million, a P/E ratio of -13.98 and a beta of 0.60. The business has a fifty day moving average price of $7.19 and a 200 day moving average price of $7.50.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $62.78 million. New Mountain Finance had a positive return on equity of 10.94% and a negative net margin of 16.78%. During the same quarter last year, the company earned $0.32 EPS. On average, analysts expect that New Mountain Finance Corporation will post 1.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors have recently made changes to their positions in the company. Genesee Capital Advisors LLC lifted its holdings in New Mountain Finance by 22.5% during the 3rd quarter. Genesee Capital Advisors LLC now owns 20,141 shares of the company’s stock worth $139,000 after purchasing an additional 3,694 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in New Mountain Finance by 28.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 147,836 shares of the company’s stock valued at $1,023,000 after purchasing an additional 32,736 shares during the period. Confluence Investment Management LLC grew its holdings in New Mountain Finance by 2.1% in the 3rd quarter. Confluence Investment Management LLC now owns 283,303 shares of the company’s stock valued at $1,960,000 after buying an additional 5,694 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in New Mountain Finance in the 2nd quarter valued at $27,000. Finally, Squarepoint Ops LLC acquired a new position in New Mountain Finance in the 2nd quarter valued at $133,000. Institutional investors own 32.08% of the company’s stock.

About New Mountain Finance

New Mountain Finance Corporation is a business development company (BDC) that provides financing to established middle-market companies. The company primarily invests in privately held businesses through senior secured loans, unitranche loans, subordinated debt and other debt securities, and may also make equity investments.

New Mountain Finance generally focuses on companies with strong market positions, recurring revenue and experienced management teams. Its investments span a range of industries and are intended to support acquisitions, recapitalizations, growth initiatives and other corporate purposes.