New Mountain Finance (NASDAQ:NMFC) Price Target Lowered to $8.00 at Wells Fargo & Company

New Mountain Finance (NASDAQ:NMFC) had its price objective dropped by investment analysts at Wells Fargo & Company from $10.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 4.64% from the stock’s previous close.

A number of other research firms have also issued reports on NMFC. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. B. Riley Financial reissued a “neutral” rating and issued a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lowered their target price 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 research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, New Mountain Finance currently has a consensus rating of “Reduce” and a consensus price target of $9.83.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC traded down $0.19 during trading on Thursday, reaching $7.65. The company had a trading volume of 389,379 shares, compared to its average volume of 1,027,149. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance has a twelve month low of $7.58 and a twelve month high of $11.81. The stock has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $9.43. The stock has a market capitalization of $788.66 million, a PE ratio of 50.97 and a beta of 0.58.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new stake in shares of New Mountain Finance in the second quarter valued at about $38,000. State of Alaska Department of Revenue purchased a new position in New Mountain Finance in the 3rd quarter worth approximately $47,000. Huntington National Bank boosted its holdings in New Mountain Finance by 311.8% in the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares during the period. US Bancorp DE acquired a new stake in New Mountain Finance in the third quarter valued at approximately $48,000. Finally, Advisory Services Network LLC purchased a new stake in shares of New Mountain Finance during the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

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.