Wall Street analysts forecast that New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) will announce sales of $70.64 million for the current quarter, according to Zacks. Two analysts have provided estimates for New Mountain Finance’s earnings, with estimates ranging from $69.30 million to $71.98 million. New Mountain Finance posted sales of $66.56 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that New Mountain Finance will report full-year sales of $281.30 million for the current fiscal year, with estimates ranging from $277.37 million to $285.22 million. For the next financial year, analysts expect that the firm will post sales of $284.15 million, with estimates ranging from $277.85 million to $290.44 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow New Mountain Finance.
New Mountain Finance (NASDAQ:NMFC – Get Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. New Mountain Finance had a return on equity of 8.99% and a net margin of 68.37%. The business had revenue of $68.22 million for the quarter, compared to analyst estimates of $67.25 million. During the same quarter in the prior year, the company posted $0.30 EPS.
In related news, Director Steven B. Klinsky purchased 14,250 shares of the business’s stock in a transaction on Friday, May 13th. The shares were bought at an average price of $12.73 per share, for a total transaction of $181,402.50. Following the acquisition, the director now directly owns 7,162,847 shares in the company, valued at $91,183,042.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Klinsky purchased 18,350 shares of the business’s stock in a transaction on Monday, May 16th. The shares were bought at an average price of $12.80 per share, for a total transaction of $234,880.00. Following the acquisition, the director now owns 7,181,197 shares in the company, valued at $91,919,321.60. The disclosure for this purchase can be found here. 10.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA purchased a new position in shares of New Mountain Finance in the 1st quarter valued at about $74,000. Advisors Asset Management Inc. increased its holdings in shares of New Mountain Finance by 4.1% in the 1st quarter. Advisors Asset Management Inc. now owns 345,974 shares of the company’s stock valued at $4,792,000 after acquiring an additional 13,592 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of New Mountain Finance by 9.1% in the 1st quarter. Guggenheim Capital LLC now owns 23,175 shares of the company’s stock valued at $321,000 after acquiring an additional 1,925 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of New Mountain Finance in the 1st quarter valued at about $458,000. Finally, Bramshill Investments LLC increased its holdings in shares of New Mountain Finance by 8.0% in the 1st quarter. Bramshill Investments LLC now owns 150,276 shares of the company’s stock valued at $2,081,000 after acquiring an additional 11,134 shares during the last quarter. Institutional investors and hedge funds own 30.15% of the company’s stock.
Shares of New Mountain Finance stock opened at $12.79 on Thursday. New Mountain Finance has a 52 week low of $12.26 and a 52 week high of $14.11. The business’s fifty day simple moving average is $13.45 and its 200-day simple moving average is $13.53. The firm has a market cap of $1.29 billion, a PE ratio of 7.27 and a beta of 1.24. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.42.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend is Wednesday, June 15th. New Mountain Finance’s payout ratio is 68.18%.
New Mountain Finance Company Profile (Get Rating)
New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes and mezzanine securities.
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