Wells Fargo & Company Trims New Mountain Finance (NASDAQ:NMFC) Target Price to $11.00

New Mountain Finance (NASDAQ:NMFC) had its target price decreased by Wells Fargo & Company from $12.00 to $11.00 in a research note issued to investors on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $11.38 on Tuesday. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.35 and a beta of 1.14. New Mountain Finance has a twelve month low of $11.34 and a twelve month high of $13.23. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $11.94 and a two-hundred day moving average price of $12.25.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $94.59 million during the quarter, compared to the consensus estimate of $90.25 million. New Mountain Finance had a net margin of 31.65% and a return on equity of 11.60%. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts expect that New Mountain Finance will post 1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oak Family Advisors LLC grew its holdings in shares of New Mountain Finance by 0.7% during the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after buying an additional 1,020 shares in the last quarter. Quarry LP boosted its position in shares of New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after acquiring an additional 1,342 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after acquiring an additional 1,800 shares during the last quarter. Stephens Inc. AR boosted its position in shares of New Mountain Finance by 10.9% in the third quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock worth $305,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Moloney Securities Asset Management LLC boosted its position in shares of New Mountain Finance by 9.1% in the second quarter. Moloney Securities Asset Management LLC now owns 30,742 shares of the company’s stock worth $376,000 after acquiring an additional 2,571 shares during the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

New Mountain Finance Company Profile

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.