New Mountain Finance (NMFC) Expected to Announce Quarterly Sales of $50.86 Million

Wall Street analysts expect that New Mountain Finance (NYSE:NMFC) will announce sales of $50.86 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for New Mountain Finance’s earnings. The lowest sales estimate is $50.15 million and the highest is $51.58 million. New Mountain Finance posted sales of $43.31 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.4%. The business is scheduled to issue its next earnings report on Monday, May 14th.

On average, analysts expect that New Mountain Finance will report full-year sales of $50.86 million for the current fiscal year, with estimates ranging from $205.41 million to $213.04 million. For the next financial year, analysts anticipate that the company will post sales of $219.35 million per share, with estimates ranging from $210.34 million to $224.72 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover New Mountain Finance.

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New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings results on Wednesday, February 28th. The investment management company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. New Mountain Finance had a net margin of 55.29% and a return on equity of 10.26%. The company had revenue of $53.30 million for the quarter, compared to analysts’ expectations of $48.94 million.

Several brokerages recently weighed in on NMFC. Zacks Investment Research cut shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods set a $15.00 price target on shares of New Mountain Finance and gave the stock a “hold” rating in a research report on Thursday, March 1st.

Shares of NMFC opened at $13.15 on Monday. New Mountain Finance has a fifty-two week low of $12.05 and a fifty-two week high of $15.00. The firm has a market capitalization of $998.55, a P/E ratio of 10.19 and a beta of 0.58. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.84.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date was Wednesday, March 14th. New Mountain Finance’s dividend payout ratio (DPR) is 105.43%.

In other news, insider John Kline acquired 20,000 shares of the business’s stock in a transaction on Monday, March 5th. The shares were acquired at an average price of $13.14 per share, for a total transaction of $262,800.00. Following the completion of the transaction, the insider now directly owns 68,255 shares of the company’s stock, valued at approximately $896,870.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Stone acquired 3,300 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were purchased at an average price of $13.53 per share, for a total transaction of $44,649.00. Following the transaction, the insider now directly owns 90,190 shares of the company’s stock, valued at $1,220,270.70. The disclosure for this purchase can be found here. Insiders have acquired 557,831 shares of company stock worth $7,449,774 in the last quarter. Company insiders own 9.39% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in New Mountain Finance by 2.6% during the third quarter. Wells Fargo & Company MN now owns 6,604,157 shares of the investment management company’s stock valued at $94,109,000 after acquiring an additional 167,120 shares during the last quarter. Monument Capital Management purchased a new stake in shares of New Mountain Finance during the fourth quarter valued at $1,252,000. Pinebridge Investments L.P. boosted its stake in shares of New Mountain Finance by 50.2% during the third quarter. Pinebridge Investments L.P. now owns 26,504 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 8,860 shares during the period. California Public Employees Retirement System boosted its stake in shares of New Mountain Finance by 30.6% during the third quarter. California Public Employees Retirement System now owns 45,200 shares of the investment management company’s stock valued at $644,000 after purchasing an additional 10,600 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of New Mountain Finance by 28.2% during the third quarter. Macquarie Group Ltd. now owns 92,141 shares of the investment management company’s stock valued at $1,313,000 after purchasing an additional 20,241 shares during the period. Institutional investors and hedge funds own 39.97% 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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