New Mountain Finance (NASDAQ:NMFC) Issues Earnings Results, Meets Expectations

New Mountain Finance (NASDAQ:NMFC) announced its quarterly earnings data on Monday. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26, FiscalAI reports. The company had revenue of $39.02 million during the quarter, compared to analyst estimates of $62.78 million. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%.

New Mountain Finance Stock Up 4.9%

New Mountain Finance stock traded up $0.34 during midday trading on Monday, hitting $7.23. 779,825 shares of the company’s stock were exchanged, compared to its average volume of 905,746. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market cap of $682.89 million, a PE ratio of -12.47 and a beta of 0.55. The firm has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.91. New Mountain Finance has a 12 month low of $6.73 and a 12 month high of $10.71.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE purchased a new position in New Mountain Finance during the third quarter valued at approximately $48,000. Advisory Services Network LLC purchased a new position in shares of New Mountain Finance in the 3rd quarter valued at $65,000. United Capital Financial Advisors LLC purchased a new position in shares of New Mountain Finance in the 3rd quarter valued at $97,000. Seven Mile Advisory bought a new position in shares of New Mountain Finance in the 4th quarter worth $98,000. Finally, Glenview Trust co purchased a new stake in shares of New Mountain Finance during the 2nd quarter worth $107,000. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Company Profile

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.