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

New Mountain Finance (NASDAQ:NMFC) released its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), Zacks reports. 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 down $0.21 during midday trading on Wednesday, reaching $11.75. 421,564 shares of the company’s stock traded hands, compared to its average volume of 347,861. The stock’s 50-day moving average is $11.45 and its 200 day moving average is $11.68. 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. The stock has a market cap of $1.27 billion, a P/E ratio of 11.19 and a beta of 1.15.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th.

Insider Buying and Selling at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 6,200 shares of New Mountain Finance stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $11.75 per share, with a total value of $72,850.00. Following the purchase, the director now directly owns 4,122,655 shares in the company, valued at $48,441,196.25. The trade was a 0.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 95,104 shares of company stock valued at $1,083,334 over the last 90 days. 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.