New Mountain Finance (NASDAQ:NMFC - Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 0.30% from the company's previous close.
Separately, Keefe, Bruyette & Woods decreased their target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.
Get Our Latest Stock Report on NMFC
New Mountain Finance Trading Up 1.8 %
NMFC stock traded up $0.18 during mid-day trading on Monday, hitting $9.97. 436,205 shares of the company were exchanged, compared to its average volume of 469,775. New Mountain Finance has a 12-month low of $8.84 and a 12-month high of $12.78. The firm has a market capitalization of $1.08 billion, a P/E ratio of 9.50 and a beta of 0.84. The business has a fifty day simple moving average of $10.50 and a 200-day simple moving average of $11.16. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $92.89 million for the quarter, compared to analysts' expectations of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. On average, equities research analysts predict that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.
Insider Buying and Selling at New Mountain Finance
In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, with a total value of $57,200.00. Following the transaction, the director now owns 179,020 shares in the company, valued at $2,047,988.80. The trade was a 2.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.71% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On New Mountain Finance
Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of New Mountain Finance by 4.1% in the 4th quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company's stock valued at $26,378,000 after buying an additional 93,329 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in New Mountain Finance by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company's stock valued at $15,081,000 after acquiring an additional 15,988 shares in the last quarter. Invesco Ltd. grew its holdings in shares of New Mountain Finance by 1,929.2% during the fourth quarter. Invesco Ltd. now owns 985,917 shares of the company's stock worth $11,101,000 after purchasing an additional 937,331 shares during the last quarter. Ares Management LLC increased its position in shares of New Mountain Finance by 15.2% during the fourth quarter. Ares Management LLC now owns 566,186 shares of the company's stock worth $6,375,000 after purchasing an additional 74,492 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of New Mountain Finance by 102.2% in the 4th quarter. Millennium Management LLC now owns 519,532 shares of the company's stock valued at $5,850,000 after purchasing an additional 262,631 shares during the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
New Mountain Finance Company Profile
(
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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.
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