New Mountain Finance (NASDAQ:NMFC) Sets New 1-Year Low – Here’s What Happened

New Mountain Finance Co. (NASDAQ:NMFC)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.84 and last traded at $9.87, with a volume of 1265216 shares. The stock had previously closed at $9.11.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their target price on shares of New Mountain Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday.

New Mountain Finance Stock Down 0.8 %

The company has a market cap of $996.54 million, a P/E ratio of 8.80 and a beta of 0.84. The business’s 50 day moving average price is $11.11 and its 200-day moving average price is $11.36. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. On average, analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 13.85%. New Mountain Finance’s dividend payout ratio (DPR) is currently 123.08%.

Insider Transactions at New Mountain Finance

In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the transaction, the director now directly owns 179,020 shares in the company, valued at $2,047,988.80. This represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 10.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Mountain Finance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at $375,000. Rockingstone Advisors LLC boosted its holdings in New Mountain Finance by 79.1% during the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock worth $3,177,000 after buying an additional 124,599 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of New Mountain Finance during the 4th quarter worth about $208,000. Union Bancaire Privee UBP SA bought a new stake in shares of New Mountain Finance in the 4th quarter valued at about $309,000. Finally, Raymond James Financial Inc. bought a new stake in shares of New Mountain Finance in the 4th quarter valued at about $944,000. 32.08% of the stock is owned by institutional investors.

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.