New Mountain Finance Corporation (NYSE:NMFC) released its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34, Bloomberg Earnings reports. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. The company had revenue of $50.02 million for the quarter, compared to analysts’ expectations of $47.66 million.
Shares of New Mountain Finance Corporation (NMFC) opened at 14.25 on Friday. New Mountain Finance Corporation has a 12-month low of $13.05 and a 12-month high of $15.00. The stock has a 50 day moving average of $14.38 and a 200-day moving average of $14.58.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.54%. New Mountain Finance Corporation’s dividend payout ratio (DPR) is presently 86.62%.
In other news, CFO Shiraz Kajee acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was purchased at an average cost of $14.63 per share, for a total transaction of $29,260.00. Following the completion of the transaction, the chief financial officer now owns 2,000 shares in the company, valued at $29,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.73% of the stock is currently owned by company insiders.
NMFC has been the topic of several research analyst reports. Zacks Investment Research cut shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods set a $15.00 price target on shares of New Mountain Finance Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, BidaskClub cut shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th.
New Mountain Finance Corporation Company Profile
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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