New Mountain Finance (NYSE:NMFC) updated its second quarter 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share guidance of 0.30-0.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. New Mountain Finance also updated its Q2 guidance to $0.30 EPS.
A number of research analysts have weighed in on NMFC shares. Oppenheimer started coverage on shares of New Mountain Finance in a research report on Thursday, May 7th. They issued a buy rating and a $11.00 price objective for the company. ValuEngine upgraded shares of New Mountain Finance from a strong sell rating to a sell rating in a research report on Friday, April 17th. Wells Fargo & Co upped their price objective on shares of New Mountain Finance from $8.00 to $9.00 and gave the stock an overweight rating in a research report on Monday, April 27th. Zacks Investment Research raised shares of New Mountain Finance from a sell rating to a hold rating in a research note on Tuesday, June 16th. Finally, TheStreet cut shares of New Mountain Finance from a c rating to a d+ rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $12.85.
New Mountain Finance stock opened at $9.02 on Friday. The firm has a 50 day simple moving average of $9.09 and a 200-day simple moving average of $10.83. New Mountain Finance has a 1-year low of $4.62 and a 1-year high of $14.45. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $870.48 million, a price-to-earnings ratio of 6.66 and a beta of 1.17.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.30%. New Mountain Finance’s payout ratio is currently 94.49%.
In related news, Director Steven B. Klinsky acquired 100,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $8.11 per share, with a total value of $811,000.00. Following the transaction, the director now owns 6,840,751 shares of the company’s stock, valued at approximately $55,478,490.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven B. Klinsky acquired 272,861 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $9.58 per share, with a total value of $2,614,008.38. Following the transaction, the director now directly owns 7,240,751 shares in the company, valued at approximately $69,366,394.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 622,861 shares of company stock valued at $5,425,708 in the last ninety days. 9.09% of the stock is currently owned by corporate insiders.
About New Mountain Finance
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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