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

New Mountain Finance (NASDAQ:NMFC) issued its earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01), Zacks reports. The firm had revenue of $92.89 million during the quarter, compared to the consensus estimate of $93.23 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%.

New Mountain Finance Price Performance

NASDAQ NMFC traded up $0.03 during trading hours on Friday, reaching $11.53. The company’s stock had a trading volume of 210,562 shares, compared to its average volume of 351,480. New Mountain Finance has a 1 year low of $10.61 and a 1 year high of $13.01. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.98 and a beta of 1.15. The firm’s 50-day moving average price is $11.47 and its 200-day moving average price is $11.68.

New Mountain Finance Cuts Dividend

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

Insider Buying and Selling at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 6,200 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $11.75 per share, for a total transaction of $72,850.00. Following the completion of the transaction, the director now directly owns 4,122,655 shares in the company, valued at approximately $48,441,196.25. This trade represents a 0.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 95,104 shares of company stock valued at $1,083,334 in the last three months. 10.34% of the stock is currently owned by corporate insiders.

About New Mountain Finance

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.