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

Key Points

• New Mountain Finance reported earnings of $0.32 EPS for the quarter, matching analysts' expectations and showcasing a net margin of 29.84%.
• The company's stock experienced a slight decline of $0.09 to settle at $10.33, with a market cap of $1.11 billion and a PE ratio of 10.33.
• Institutional investors hold 32.08% of the company's stock, with Millennium Management LLC recently increasing its stake by 36.9%.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) released its quarterly earnings data on Monday. The company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32, Zacks reports. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%. The company had revenue of $83.49 million for the quarter, compared to the consensus estimate of $84.57 million. During the same period last year, the business posted $0.36 EPS.

New Mountain Finance Stock Up 0.2%

Shares of New Mountain Finance stock traded up $0.03 on Friday, hitting $10.23. 234,685 shares of the company's stock traded hands, compared to its average volume of 472,183. New Mountain Finance has a 52-week low of $8.84 and a 52-week high of $12.44. The company has a quick ratio of 2.22, a current ratio of 1.42 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.09 billion, a P/E ratio of 13.48 and a beta of 0.82. The firm's 50-day moving average is $10.57 and its 200 day moving average is $10.75.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Tuesday, September 16th. New Mountain Finance's dividend payout ratio is presently 168.42%.

Institutional Trading of New Mountain Finance

A hedge fund recently raised its stake in New Mountain Finance stock. Millennium Management LLC raised its stake in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 36.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 711,050 shares of the company's stock after purchasing an additional 191,518 shares during the period. Millennium Management LLC owned 0.66% of New Mountain Finance worth $7,843,000 as of its most recent SEC filing. Institutional investors and hedge funds own 32.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Oppenheimer set a $11.00 target price on shares of New Mountain Finance and gave the company a "market perform" rating in a research note on Wednesday. B. Riley initiated coverage on New Mountain Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on 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.

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.