New Mountain Finance (NASDAQ:NMFC) Issues 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) issued its quarterly earnings data on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32, Zacks reports. The firm had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.34%. During the same period in the previous year, the firm earned $0.36 EPS.

New Mountain Finance Stock Down 1.2%

Shares of New Mountain Finance stock traded down $0.13 on Wednesday, reaching $10.06. 532,088 shares of the company were exchanged, compared to its average volume of 470,701. New Mountain Finance has a 1-year low of $8.84 and a 1-year high of $12.44. The company has a market cap of $1.08 billion, a P/E ratio of 13.22 and a beta of 0.82. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.22 and a quick ratio of 2.22. The stock's 50 day moving average price is $10.60 and its 200-day moving average price is $10.76.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.7%. New Mountain Finance's payout ratio is currently 128.00%.

Hedge Funds Weigh In On New Mountain Finance

A hedge fund recently raised its stake in New Mountain Finance stock. Millennium Management LLC boosted its holdings in New Mountain Finance Corporation (NASDAQ:NMFC - Free Report) by 36.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711,050 shares of the company's stock after purchasing an additional 191,518 shares during the quarter. Millennium Management LLC owned about 0.66% of New Mountain Finance worth $7,843,000 as of its most recent SEC filing. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NMFC shares. B. Riley started coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They issued a "neutral" rating and a $11.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Oppenheimer set a $11.00 target price on New Mountain Finance and gave the company a "market perform" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their target price on New Mountain Finance from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

About New Mountain Finance

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.