Keefe, Bruyette & Woods Has Lowered Expectations for New Mountain Finance (NASDAQ:NMFC) Stock Price

New Mountain Finance (NASDAQ:NMFC) had its price objective cut by research analysts at Keefe, Bruyette & Woods from $12.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 17.46% from the stock’s current price.

New Mountain Finance Trading Up 0.4 %

Shares of NASDAQ NMFC traded up $0.04 during trading on Tuesday, hitting $9.37. 461,376 shares of the company were exchanged, compared to its average volume of 443,639. The company has a fifty day moving average price of $11.37 and a 200-day moving average price of $11.45. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market capitalization of $1.01 billion, a PE ratio of 8.89 and a beta of 0.84. New Mountain Finance has a 12-month low of $9.28 and a 12-month high of $12.81.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Wednesday, February 26th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $92.89 million for the quarter, compared to analysts’ expectations of $93.23 million. As a group, equities research analysts expect that New Mountain Finance will post 1.39 EPS for the current year.

Insider Buying and Selling at New Mountain Finance

In related news, Director David Ogens purchased 5,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the director now directly owns 179,020 shares in the company, valued at approximately $2,047,988.80. The trade was a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.22% of the company’s stock.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds have recently made changes to their positions in the stock. Confluence Investment Management LLC raised its position in New Mountain Finance by 2.1% in the first quarter. Confluence Investment Management LLC now owns 438,682 shares of the company’s stock valued at $4,839,000 after purchasing an additional 8,876 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in shares of New Mountain Finance in the fourth quarter valued at $607,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of New Mountain Finance in the 4th quarter valued at $2,359,000. Vise Technologies Inc. raised its holdings in shares of New Mountain Finance by 7.2% in the 4th quarter. Vise Technologies Inc. now owns 16,494 shares of the company’s stock valued at $186,000 after buying an additional 1,110 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in New Mountain Finance by 179.7% during the 4th quarter. Squarepoint Ops LLC now owns 40,292 shares of the company’s stock worth $454,000 after acquiring an additional 25,886 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

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.