New Mountain Finance Corp. (NMFC) Expected to Post Quarterly Sales of $55.38 Million
Wall Street analysts expect New Mountain Finance Corp. (NYSE:NMFC) to post $55.38 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for New Mountain Finance’s earnings, with the highest sales estimate coming in at $57.33 million and the lowest estimate coming in at $54.30 million. New Mountain Finance posted sales of $51.24 million in the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, November 7th.
According to Zacks, analysts expect that New Mountain Finance will report full-year sales of $217.39 million for the current financial year, with estimates ranging from $211.10 million to $223.07 million. For the next year, analysts anticipate that the company will post sales of $231.93 million, with estimates ranging from $223.90 million to $236.90 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The business had revenue of $54.60 million for the quarter, compared to analyst estimates of $53.10 million. New Mountain Finance had a return on equity of 10.11% and a net margin of 46.52%.
In related news, insider John Kline acquired 17,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were acquired at an average price of $13.77 per share, with a total value of $237,532.50. Following the completion of the purchase, the insider now directly owns 81,030 shares in the company, valued at $1,115,783.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Adam Weinstein acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average cost of $13.74 per share, for a total transaction of $164,880.00. Following the purchase, the chief accounting officer now owns 92,113 shares of the company’s stock, valued at $1,265,632.62. The disclosure for this purchase can be found here. Insiders acquired 48,250 shares of company stock worth $662,833 in the last three months. 10.27% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Standard Life Aberdeen plc purchased a new position in New Mountain Finance during the second quarter worth about $852,000. GSA Capital Partners LLP purchased a new position in New Mountain Finance during the second quarter worth about $270,000. Comerica Bank purchased a new position in New Mountain Finance during the second quarter worth about $144,000. Cliffwater LLC lifted its position in New Mountain Finance by 1.5% during the second quarter. Cliffwater LLC now owns 305,398 shares of the investment management company’s stock worth $4,153,000 after buying an additional 4,626 shares during the period. Finally, BlueMountain Capital Management LLC lifted its position in New Mountain Finance by 68.3% during the second quarter. BlueMountain Capital Management LLC now owns 86,803 shares of the investment management company’s stock worth $1,181,000 after buying an additional 35,239 shares during the period. 36.99% of the stock is currently owned by institutional investors and hedge funds.
New Mountain Finance stock traded up $0.10 during trading hours on Monday, hitting $13.18. The stock had a trading volume of 311,103 shares, compared to its average volume of 287,933. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.22 and a beta of 0.55. New Mountain Finance has a 1-year low of $12.05 and a 1-year high of $14.50.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.32%. The ex-dividend date of this dividend was Thursday, September 13th. New Mountain Finance’s dividend payout ratio (DPR) is 105.43%.
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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