New Mountain Finance (NASDAQ:NMFC) Hits New 12-Month Low – Here’s Why

New Mountain Finance Corporation (NASDAQ:NMFC) hit a new 52-week low on Wednesday . The stock traded as low as $7.69 and last traded at $7.8250, with a volume of 812818 shares changing hands. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

A number of analysts have commented on NMFC shares. Wells Fargo & Company lowered their target price on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Zacks Research upgraded 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 target price (down from $11.00) on shares of New Mountain Finance in a research note on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $9.83.

New Mountain Finance Stock Down 0.5%

The stock has a market capitalization of $791.21 million, a price-to-earnings ratio of 51.13 and a beta of 0.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.99 and a current ratio of 3.16. The firm’s fifty day simple moving average is $8.75 and its 200 day simple moving average is $9.42.

New Mountain Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 16.7%. New Mountain Finance’s dividend payout ratio is presently 853.33%.

Institutional Trading of New Mountain Finance

Several hedge funds and other institutional investors have recently modified their holdings of NMFC. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of New Mountain Finance by 23.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock worth $5,844,000 after buying an additional 114,840 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of New Mountain Finance by 266.7% in the second quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock valued at $3,647,000 after acquiring an additional 251,596 shares during the last quarter. Franklin Resources Inc. raised its holdings in New Mountain Finance by 18.1% during the second quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock worth $6,788,000 after acquiring an additional 98,603 shares in the last quarter. Muzinich & Co. Inc. boosted its position in New Mountain Finance by 46.4% during the second quarter. Muzinich & Co. Inc. now owns 575,474 shares of the company’s stock valued at $6,071,000 after purchasing an additional 182,338 shares during the last quarter. Finally, Dimension Capital Management LLC grew its stake in New Mountain Finance by 17.0% in the second quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock valued at $10,023,000 after purchasing an additional 138,123 shares in the last quarter. 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.