Wall Street analysts expect that New Mountain Finance Corporation (NYSE:NMFC) will post sales of $48.94 million for the current quarter, according to Zacks Investment Research. 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 in the same quarter last year, which indicates a positive year over year growth rate of 11.7%. The business is expected to report its next earnings results after the market closes on Wednesday, February 28th.
On average, 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 financial year, analysts anticipate that the business will report sales of $207.82 million per share, with estimates ranging from $194.00 million to $215.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last released its quarterly earnings data on Tuesday, November 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). New Mountain Finance had a net margin of 48.36% and a return on equity of 9.63%.
In other news, insider James Stone purchased 12,000 shares of New Mountain Finance stock in a transaction on Thursday, December 7th. The shares were purchased at an average cost of $14.19 per share, for a total transaction of $170,280.00. Following the completion of the transaction, the insider now directly owns 87,438 shares in the company, valued at $1,240,745.22. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kurt Wolfgruber purchased 3,000 shares of New Mountain Finance stock in a transaction on Friday, December 15th. The stock was purchased at an average price of $13.93 per share, for a total transaction of $41,790.00. Following the completion of the transaction, the director now owns 42,905 shares of the company’s stock, valued at $597,666.65. The disclosure for this purchase can be found here. In the last three months, insiders purchased 26,100 shares of company stock worth $369,068. 9.73% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in New Mountain Finance in the second quarter valued at about $153,000. Alliancebernstein L.P. acquired a new position in New Mountain Finance in the second quarter valued at about $160,000. OxFORD Asset Management LLP acquired a new position in shares of New Mountain Finance during the third quarter worth approximately $161,000. Stifel Financial Corp lifted its position in shares of New Mountain Finance by 22.3% during the second quarter. Stifel Financial Corp now owns 12,868 shares of the investment management company’s stock worth $186,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its position in shares of New Mountain Finance by 48.6% during the third quarter. Global X MANAGEMENT CO LLC now owns 13,461 shares of the investment management company’s stock worth $192,000 after purchasing an additional 4,404 shares in the last quarter. Hedge funds and other institutional investors own 39.42% of the company’s stock.
New Mountain Finance (NMFC) opened at $13.50 on Wednesday. The firm has a market cap of $1,020.00, a price-to-earnings ratio of 8.71 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. New Mountain Finance has a 52-week low of $13.35 and a 52-week high of $15.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 10.07%. New Mountain Finance’s payout ratio is currently 87.74%.
New Mountain Finance 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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