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

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

Analyst Ratings Changes

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

New Mountain Finance Trading Down 0.7 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.51 and a beta of 1.14. The business has a fifty day moving average of $12.04 and a 200-day moving average of $12.32.

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

New Mountain Finance Dividend Announcement

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

Hedge Funds Weigh In On New Mountain Finance

Several large investors have recently modified their holdings of NMFC. Virtu Financial LLC bought a new stake in New Mountain Finance during the 4th quarter valued at $181,000. Sanders Morris Harris LLC bought a new position in New Mountain Finance in the 1st quarter worth about $245,000. Van ECK Associates Corp grew its stake in New Mountain Finance by 9.5% during the first quarter. Van ECK Associates Corp now owns 1,710,907 shares of the company’s stock valued at $21,677,000 after acquiring an additional 148,470 shares in the last quarter. Hartline Investment Corp purchased a new position in shares of New Mountain Finance during the 1st quarter valued at $250,000. Finally, Csenge Advisory Group bought a new position in shares of New Mountain Finance in the first quarter worth approximately $227,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

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.