Equities research analysts expect that New Mountain Finance Corp. (NYSE:NMFC) will post $55.38 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for New Mountain Finance’s earnings, with the lowest sales estimate coming in at $54.30 million and the highest estimate coming in at $57.33 million. New Mountain Finance reported sales of $51.24 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.1%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that New Mountain Finance will report full-year sales of $217.39 million for the current financial year, with estimates ranging from $211.10 million to $223.07 million. For the next financial year, analysts anticipate that the company will post sales of $231.93 million, with estimates ranging from $223.90 million to $236.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover New Mountain Finance.
New Mountain Finance (NYSE:NMFC) last issued its quarterly earnings data on Tuesday, August 7th. The investment management company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). New Mountain Finance had a return on equity of 10.11% and a net margin of 46.52%. The business had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.10 million.
In other news, insider James Stone bought 4,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average price of $13.73 per share, with a total value of $54,920.00. Following the completion of the purchase, the insider now directly owns 93,351 shares in the company, valued at $1,281,709.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Hamwee bought 15,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average cost of $13.70 per share, with a total value of $205,500.00. Following the purchase, the chief executive officer now owns 326,733 shares of the company’s stock, valued at $4,476,242.10. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 48,250 shares of company stock valued at $662,833. 10.27% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NMFC. Castle Rock Wealth Management LLC bought a new stake in New Mountain Finance in the second quarter valued at approximately $139,000. Comerica Bank bought a new stake in New Mountain Finance in the second quarter valued at approximately $144,000. Tocqueville Asset Management L.P. bought a new stake in New Mountain Finance in the second quarter valued at approximately $162,000. Stifel Financial Corp lifted its position in New Mountain Finance by 61.6% in the first quarter. Stifel Financial Corp now owns 18,824 shares of the investment management company’s stock valued at $249,000 after purchasing an additional 7,174 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in New Mountain Finance in the second quarter valued at approximately $270,000. Hedge funds and other institutional investors own 37.04% of the company’s stock.
Shares of NYSE NMFC traded down $0.05 during midday trading on Thursday, hitting $13.41. 481,911 shares of the company’s stock were exchanged, compared to its average volume of 283,862. New Mountain Finance has a 12-month low of $12.05 and a 12-month high of $14.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.40 and a beta of 0.54.
New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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