New Mountain Finance Corporation (NYSE:NMFC) Posts Quarterly Earnings Results, Hits Expectations
New Mountain Finance Corporation (NYSE:NMFC) posted its quarterly earnings results on Tuesday. The investment management company reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34, Bloomberg Earnings reports. New Mountain Finance Corporation had a net margin of 78.68% and a return on equity of 10.06%.
New Mountain Finance Corporation (NYSE NMFC) traded up 0.35% during mid-day trading on Tuesday, hitting $14.35. 304,197 shares of the company traded hands. The firm has a 50 day moving average of $14.41 and a 200 day moving average of $14.58. New Mountain Finance Corporation has a one year low of $13.05 and a one year high of $15.00.
In other news, Director David Ogens bought 3,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $14.37 per share, with a total value of $51,732.00. Following the acquisition, the director now owns 49,654 shares of the company’s stock, valued at approximately $713,527.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shiraz Kajee bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average cost of $14.63 per share, for a total transaction of $29,260.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $29,260. The disclosure for this purchase can be found here. Corporate insiders own 9.73% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of New Mountain Finance Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub lowered shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price target on shares of New Mountain Finance Corporation in a research report on Tuesday, July 25th.
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New Mountain Finance Corporation Company Profile
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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