New Mountain Finance (NASDAQ:NMFC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

New Mountain Finance (NASDAQ:NMFC) posted its quarterly earnings data on Wednesday. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), Zacks reports. The firm had revenue of $92.89 million for the quarter, compared to analysts’ expectations of $93.23 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%.

New Mountain Finance Stock Performance

NMFC stock traded up $0.03 during midday trading on Friday, reaching $11.53. 210,562 shares of the company’s stock traded hands, compared to its average volume of 351,480. The stock’s 50-day moving average is $11.47 and its 200 day moving average is $11.68. The stock has a market cap of $1.24 billion, a P/E ratio of 10.98 and a beta of 1.15. New Mountain Finance has a 52-week low of $10.61 and a 52-week high of $13.01. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46.

New Mountain Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.10%. The ex-dividend date is Monday, March 17th. New Mountain Finance’s payout ratio is 121.90%.

Insider Activity

In related news, Director Steven B. Klinsky purchased 6,200 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $11.75 per share, with a total value of $72,850.00. Following the completion of the acquisition, the director now owns 4,122,655 shares of the company’s stock, valued at approximately $48,441,196.25. This trade represents a 0.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 95,104 shares of company stock valued at $1,083,334 in the last 90 days. Company insiders own 10.34% of the company’s stock.

New Mountain Finance Company Profile

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.