New Mountain Finance (NASDAQ:NMFC) Given New $8.00 Price Target at Wells Fargo & Company

New Mountain Finance (NASDAQ:NMFC) had its price objective dropped by investment analysts at Wells Fargo & Company from $10.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.64% from the company’s previous close.

Several other brokerages have also commented on NMFC. Keefe, Bruyette & Woods cut their price target on shares of New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. B. Riley Financial reaffirmed a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Finally, Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, New Mountain Finance presently has an average rating of “Reduce” and an average target price of $9.83.

New Mountain Finance Stock Down 2.4%

NMFC stock traded down $0.19 during trading on Thursday, hitting $7.65. 389,379 shares of the company’s stock were exchanged, compared to its average volume of 1,027,149. The business has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $9.43. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $788.66 million, a price-to-earnings ratio of 50.97 and a beta of 0.58. New Mountain Finance has a 52-week low of $7.58 and a 52-week high of $11.81.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in New Mountain Finance by 23.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock valued at $5,844,000 after purchasing an additional 114,840 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of New Mountain Finance by 266.7% in the 2nd quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock worth $3,647,000 after buying an additional 251,596 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of New Mountain Finance by 18.1% in the 2nd quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock worth $6,788,000 after buying an additional 98,603 shares in the last quarter. Muzinich & Co. Inc. grew its stake in New Mountain Finance by 46.4% in the 2nd quarter. Muzinich & Co. Inc. now owns 575,474 shares of the company’s stock valued at $6,071,000 after acquiring an additional 182,338 shares during the last quarter. Finally, Dimension Capital Management LLC increased its holdings in New Mountain Finance by 17.0% during the 2nd quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock valued at $10,023,000 after acquiring 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.