New Mountain Finance (NASDAQ:NMFC) Issues Quarterly Earnings Results

New Mountain Finance (NASDAQ:NMFCGet Free Report) posted its quarterly earnings results on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26, FiscalAI reports. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $62.78 million.

New Mountain Finance Stock Up 4.9%

Shares of NMFC stock traded up $0.34 during mid-day trading on Monday, reaching $7.23. 779,849 shares of the company’s stock traded hands, compared to its average volume of 905,748. The company has a market cap of $682.89 million, a P/E ratio of -12.47 and a beta of 0.55. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.26. New Mountain Finance has a 12 month low of $6.73 and a 12 month high of $10.71. The company’s 50-day moving average price is $7.34 and its 200-day moving average price is $7.91.

Hedge Funds Weigh In On New Mountain Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zuckerman Investment Group LLC bought a new position in New Mountain Finance during the second quarter valued at approximately $158,000. ExodusPoint Capital Management LP purchased a new stake in New Mountain Finance during the 4th quarter valued at $156,000. Schonfeld Strategic Advisors LLC bought a new position in shares of New Mountain Finance during the 4th quarter valued at $151,000. Advyzon Investment Management LLC lifted its holdings 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 valued at $148,000 after buying an additional 3,246 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of New Mountain Finance in the 4th quarter worth $146,000. 32.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NMFC has been the subject of several analyst reports. Zacks Research upgraded New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods decreased their price target on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. Wall Street Zen upgraded New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Weiss Ratings lowered New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $9.08.

Check Out Our Latest Stock Report on New Mountain Finance

About New Mountain Finance

(Get Free Report)

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.

Further Reading

Earnings History for New Mountain Finance (NASDAQ:NMFC)

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