New Mountain Finance (NASDAQ:NMFC) Announces Earnings Results

New Mountain Finance (NASDAQ:NMFC - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32, Zacks reports. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%.

New Mountain Finance Stock Performance

Shares of NMFC traded down $0.21 during trading hours on Monday, reaching $9.76. 479,027 shares of the company traded hands, compared to its average volume of 470,187. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average price of $10.50 and a 200-day moving average price of $11.15. New Mountain Finance has a 12-month low of $8.84 and a 12-month high of $12.78. The stock has a market capitalization of $1.05 billion, a P/E ratio of 9.30 and a beta of 0.85.

New Mountain Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 13.11%. New Mountain Finance's payout ratio is 123.08%.

Insider Buying and Selling

In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $11.44 per share, for a total transaction of $57,200.00. Following the completion of the purchase, the director now directly owns 179,020 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is accessible through this link. 11.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th.

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.

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