New Mountain Finance (NASDAQ:NMFC) Announces Quarterly Earnings Results, Misses Estimates By $0.56 EPS

New Mountain Finance (NASDAQ:NMFC) posted its earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.56), FiscalAI reports. The firm had revenue of $47.88 million for the quarter, compared to analysts’ expectations of $79.10 million. New Mountain Finance had a return on equity of 10.42% and a net margin of 20.84%.

New Mountain Finance Stock Up 0.9%

Shares of NMFC traded up $0.07 during mid-day trading on Tuesday, reaching $8.16. 742,966 shares of the stock traded hands, compared to its average volume of 980,649. The firm has a market cap of $841.75 million, a price-to-earnings ratio of 12.55 and a beta of 0.59. The stock has a fifty day simple moving average of $8.84 and a 200 day simple moving average of $9.46. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.40. New Mountain Finance has a 12-month low of $7.91 and a 12-month high of $12.02.

Institutional Trading of New Mountain Finance

Large investors have recently modified their holdings of the business. Jump Financial LLC bought a new position in shares of New Mountain Finance in the 2nd quarter worth about $217,000. Quantbot Technologies LP acquired a new stake in New Mountain Finance during the second quarter worth about $199,000. XTX Topco Ltd bought a new position in New Mountain Finance in the second quarter worth about $172,000. Cetera Investment Advisers lifted its holdings in New Mountain Finance by 45.6% in the second quarter. Cetera Investment Advisers now owns 35,164 shares of the company’s stock worth $371,000 after acquiring an additional 11,018 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in New Mountain Finance in the fourth quarter valued at approximately $146,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NMFC. B. Riley Financial reiterated a “neutral” rating and issued a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a research report on Wednesday, November 5th. Zacks Research upgraded shares of New Mountain Finance from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $10.17.

New Mountain Finance Company Profile

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.