New Mountain Finance (NASDAQ:NMFC) Announces Quarterly Earnings Results, Meets Estimates

New Mountain Finance (NASDAQ:NMFC) announced its quarterly earnings results on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26, FiscalAI reports. New Mountain Finance had a positive return on equity of 10.63% and a negative net margin of 16.78%.The company had revenue of $39.02 million during the quarter, compared to the consensus estimate of $62.78 million. During the same period in the previous year, the company posted $0.32 earnings per share.

New Mountain Finance Trading Down 2.1%

NASDAQ:NMFC traded down $0.16 during trading hours on Wednesday, hitting $7.32. The company had a trading volume of 232,193 shares, compared to its average volume of 903,101. New Mountain Finance has a 1 year low of $6.73 and a 1 year high of $10.71. The company has a market cap of $691.37 million, a P/E ratio of -12.62 and a beta of 0.55. The company has a 50-day moving average of $7.32 and a 200 day moving average of $7.88. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.26.

New Mountain Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.7%. The ex-dividend date of this dividend is Wednesday, September 16th. New Mountain Finance’s payout ratio is -172.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NMFC. Mackenzie Financial Corp raised its position in New Mountain Finance by 3.7% in the third quarter. Mackenzie Financial Corp now owns 31,306 shares of the company’s stock valued at $302,000 after purchasing an additional 1,126 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of New Mountain Finance by 2.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 95,805 shares of the company’s stock worth $1,013,000 after purchasing an additional 2,634 shares during the last quarter. Advyzon Investment Management LLC increased its position in shares of New Mountain Finance by 25.3% during the 4th quarter. Advyzon Investment Management LLC now owns 16,080 shares of the company’s stock worth $148,000 after purchasing an additional 3,246 shares during the last quarter. Inspire Investing LLC raised its holdings in New Mountain Finance by 8.5% in the 4th quarter. Inspire Investing LLC now owns 50,906 shares of the company’s stock valued at $469,000 after buying an additional 4,000 shares during the period. Finally, US Bancorp DE acquired a new position in New Mountain Finance in the third quarter valued at about $48,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NMFC. Keefe, Bruyette & Woods lowered their price target on shares of New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, July 20th. Wells Fargo & Company dropped their target price on New Mountain Finance from $8.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Wednesday. Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $9.00.

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.