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

New Mountain Finance (NASDAQ:NMFC) posted its quarterly earnings data on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26, FiscalAI reports. The business had revenue of $39.02 million during the quarter, compared to the consensus estimate of $62.78 million. New Mountain Finance had a negative net margin of 18.65% and a positive return on equity of 11.14%. During the same period in the prior year, the firm earned $0.32 EPS.

New Mountain Finance Stock Performance

NASDAQ NMFC opened at $7.23 on Tuesday. The company’s fifty day moving average is $7.33 and its two-hundred day moving average is $7.90. New Mountain Finance has a 52-week low of $6.73 and a 52-week high of $10.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a market capitalization of $682.87 million, a price-to-earnings ratio of -12.47 and a beta of 0.55.

Institutional Investors Weigh In On New Mountain Finance

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE bought a new position in New Mountain Finance during the third quarter valued at about $48,000. Advisory Services Network LLC bought a new stake in shares of New Mountain Finance in the 3rd quarter worth approximately $65,000. United Capital Financial Advisors LLC bought a new stake in shares of New Mountain Finance in the 3rd quarter worth approximately $97,000. Seven Mile Advisory acquired a new position in shares of New Mountain Finance in the fourth quarter valued at $98,000. Finally, Glenview Trust co bought a new position in New Mountain Finance in the second quarter worth $107,000. Institutional investors own 32.08% of the company’s stock.

Analysts Set New Price Targets

NMFC has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of New Mountain Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods lowered their target price on New Mountain Finance from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, July 20th. Finally, Zacks Research raised New Mountain Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $9.08.

About New Mountain Finance

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.