New Mountain Finance (NASDAQ:NMFC) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

New Mountain Finance (NASDAQ:NMFC) had its price target lowered by Wells Fargo & Company from $12.50 to $12.00 in a report released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

New Mountain Finance Stock Performance

Shares of New Mountain Finance stock traded down $0.01 during trading on Friday, hitting $11.93. 184,960 shares of the company’s stock traded hands, compared to its average volume of 407,777. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.75 and a quick ratio of 1.11. New Mountain Finance has a 1 year low of $11.60 and a 1 year high of $13.23. The stock has a market capitalization of $1.29 billion, a P/E ratio of 10.76 and a beta of 1.15. The business has a 50-day simple moving average of $12.38 and a 200-day simple moving average of $12.55.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. New Mountain Finance had a return on equity of 11.60% and a net margin of 31.65%. The company had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $90.25 million. During the same period last year, the firm posted $0.39 earnings per share. As a group, analysts forecast that New Mountain Finance will post 1.42 EPS for the current year.

New Mountain Finance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.28 annualized dividend and a yield of 10.73%. New Mountain Finance’s payout ratio is 115.32%.

Insiders Place Their Bets

In other news, Director David Ogens bought 3,500 shares of the company’s stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $12.62 per share, with a total value of $44,170.00. Following the completion of the transaction, the director now owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Morton Brown Family Wealth LLC purchased a new position in shares of New Mountain Finance during the 4th quarter valued at about $35,000. Hillsdale Investment Management Inc. bought a new stake in New Mountain Finance during the 1st quarter valued at approximately $40,000. EntryPoint Capital LLC bought a new stake in New Mountain Finance during the 1st quarter valued at approximately $52,000. Lazard Asset Management LLC bought a new stake in New Mountain Finance during the 1st quarter valued at approximately $126,000. Finally, Beaumont Financial Advisors LLC bought a new stake in New Mountain Finance during the 4th quarter valued at approximately $130,000. 32.08% of the stock is owned by hedge funds and other 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.