New Mountain Finance Corporation (NMFC) Expected to Announce Quarterly Sales of $48.94 Million

Equities research analysts expect New Mountain Finance Corporation (NYSE:NMFC) to report sales of $48.94 million for the current quarter, according to Zacks. Four analysts have issued estimates for New Mountain Finance’s earnings, with estimates ranging from $46.48 million to $50.13 million. New Mountain Finance reported sales of $43.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The company is expected to issue its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that New Mountain Finance will report full-year sales of $48.94 million for the current year, with estimates ranging from $184.00 million to $194.69 million. For the next fiscal year, analysts expect that the firm will post sales of $207.82 million per share, with estimates ranging from $194.00 million to $215.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow New Mountain Finance.

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, October 5th. ValuEngine upgraded shares of New Mountain Finance from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th.

New Mountain Finance (NYSE:NMFC) opened at $13.75 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 0.81. New Mountain Finance has a one year low of $13.55 and a one year high of $15.00. The stock has a market cap of $1,042.32, a P/E ratio of 10.19 and a beta of 0.59.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.89%. New Mountain Finance’s dividend payout ratio is presently 90.07%.

In other news, insider James Stone bought 12,000 shares of the stock in a transaction on Thursday, December 7th. The stock was bought at an average cost of $14.19 per share, for a total transaction of $170,280.00. Following the completion of the purchase, the insider now directly owns 87,438 shares in the company, valued at $1,240,745.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shiraz Kajee bought 2,000 shares of the stock in a transaction on Friday, November 17th. The stock was purchased at an average price of $14.08 per share, with a total value of $28,160.00. Following the completion of the purchase, the chief financial officer now owns 4,000 shares of the company’s stock, valued at $56,320. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 26,100 shares of company stock worth $369,068. Insiders own 9.73% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NMFC. Airain ltd acquired a new stake in New Mountain Finance in the second quarter valued at approximately $149,000. Cetera Investment Advisers acquired a new stake in New Mountain Finance in the second quarter valued at approximately $153,000. Financial Counselors Inc. acquired a new stake in New Mountain Finance in the second quarter valued at approximately $155,000. Alliancebernstein L.P. acquired a new stake in New Mountain Finance in the second quarter valued at approximately $160,000. Finally, OxFORD Asset Management LLP acquired a new stake in New Mountain Finance in the third quarter valued at approximately $161,000. Institutional investors own 39.29% of the company’s stock.

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About New Mountain Finance

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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