New Mountain Finance (NASDAQ:NMFC) Hits New 52-Week Low – What’s Next?

New Mountain Finance Corporation (NASDAQ:NMFC) shares hit a new 52-week low during trading on Monday . The company traded as low as $7.91 and last traded at $8.0150, with a volume of 85223 shares traded. The stock had previously closed at $7.96.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NMFC. Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. B. Riley Financial reiterated a “neutral” rating and issued a $10.00 target price (down previously from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $10.17.

New Mountain Finance Price Performance

The company has a market capitalization of $885.11 million, a price-to-earnings ratio of 13.20 and a beta of 0.58. The stock has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $9.59. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.99 and a quick ratio of 1.99.

Institutional Investors Weigh In On New Mountain Finance

Several hedge funds have recently modified their holdings of NMFC. Goldman Sachs Group Inc. purchased a new position in shares of New Mountain Finance in the 4th quarter valued at about $1,887,000. Calton & Associates Inc. acquired a new stake in New Mountain Finance in the fourth quarter valued at approximately $125,000. Legal & General Group Plc grew its holdings in New Mountain Finance by 13.5% in the fourth quarter. Legal & General Group Plc now owns 742,423 shares of the company’s stock valued at $6,827,000 after purchasing an additional 88,441 shares during the period. LSV Asset Management increased its position in shares of New Mountain Finance by 13.4% in the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock valued at $27,508,000 after buying an additional 353,062 shares in the last quarter. Finally, Oak Family Advisors LLC acquired a new position in shares of New Mountain Finance during the 4th quarter worth approximately $124,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

New Mountain Finance Company Profile

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.