New Mountain Finance Corporation is a Business Development Company. It specializes in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, first-lien/unitranche loans, select second-lien loans, bonds, 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. It seeks to invest in United States. It typically invests between $10 million and $50 million. Within middle market it seeks to invest in companies having EBITDA between $10 million and $200 million. It prefers to invest in equity interests, such as preferred stock, common stock, warrants, or options received in connection with its debt investments and directly in the equity of private companies. The fund makes investments through both primary originations and open-market secondary purchases. It invests primarily in debt securities that are rated below investment grade and have contractual unlevered returns of 10% to 15%. The firm may also invest in distressed debt and related opportunities and prefers to invest in targets having private equity sponsorship. It seeks to hold its investments between five years and ten years. The fund prefer to have majority stake in companies.
IPO Year:
Exchange: NYSE
Website: newmountainfinance.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/18/2023 | $13.00 → $11.00 | Overweight → Equal Weight | Wells Fargo |
| 10/14/2022 | $11.50 | Neutral | B. Riley Securities |
| 2/7/2022 | Buy | Janney | |
| 10/25/2021 | $14.00 → $14.25 | Overweight | Wells Fargo |
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Wells Fargo downgraded New Mountain Finance from Overweight to Equal Weight and set a new price target of $11.00 from $13.00 previously
B. Riley Securities initiated coverage of New Mountain Finance with a rating of Neutral and set a new price target of $11.50
Janney initiated coverage of New Mountain Finance with a rating of Buy
Wells Fargo reiterated coverage of New Mountain Finance with a rating of Overweight and set a new price target of $14.25 from $14.00 previously
Hovde Group initiated coverage of New Mountain Finance with a rating of Market Perform and set a new price target of $13.50
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NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
Reports Adjusted Net Investment Income1 of $0.34 per Share Declares a Regular Fourth Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.01 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended September 30, 2024. Third Quarter Highlights2 Adjusted net investment income1 of $36.7 million, or $0.34 per weighted average share Net asset value of $12.62 per share compared to $12.74 per share as of June 30, 2024 Continued strong credit performance with approximately 97.3% of the portfolio rated green on our internal risk rating system, up fro
New Mountain Finance Corporation (NASDAQ:NMFC) ("NMFC" or "the Company") today announced that on October 23, 2024, the Company's board of directors authorized an extension of a previously established stock repurchase program (the "Repurchase Program"). Pursuant to the Repurchase Program, the Company can repurchase up to $50 million worth of its common stock at the discretion of NMFC's management team. The Repurchase Program was set to expire on December 31, 2024, but the Company's board of directors elected to extend the Repurchase Program through December 31, 2025. Under the Repurchase Program, NMFC may, but is not obligated to, repurchase its outstanding common stock in the open market fr
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended September 30, 2024 on Wednesday October 30, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, October 31, 2024. During the live conference call, the Company's officers will review the third quarter performance, discuss recent events and conduct a question-and-answer session. Third Quarter 2024 Conference Call Information To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid an
New Mountain Finance Corporation (the "Company," "we," "us" or "our") (NASDAQ:NMFC) today announced that it has priced an underwritten public offering of $300 million in aggregate principal amount of 6.200% unsecured notes due 2027 (the "Notes"). The Notes will mature on October 15, 2027, and may be redeemed in whole or in part at the Company's option at any time prior to October 15, 2027, at par plus a "make-whole" premium plus accrued interest. The Notes will bear interest at a rate of 6.200% per year payable semi-annually on April 15 and October 15 of each year, beginning April 15, 2025. The offering is expected to close on September 26, 2024, subject to the satisfaction of customary c
Reports Net Investment Income of $0.36 per Share Declares a Regular Third Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended June 30, 2024. Second Quarter Highlights1 Net investment income of $38.2 million, or $0.36 per weighted average share Net asset value of $12.74 per share compared to $12.77 per share as of March 31, 2024 Plan to permanently reduce base management fee to 1.25% Amending and extending the dividend protection program Continued strong credit performan
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended June 30, 2024 on Wednesday, July 31, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, August 1, 2024. During the live conference call, the Company's officers will review the second quarter performance, discuss recent events and conduct a question-and-answer session. Second Quarter 2024 Conference Call Information To participate in the live earnings conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any d
Reports Net Investment Income of $0.36 per Share Declares a Regular Second Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended March 31, 2024. First Quarter Highlights1 Net investment income of $37.3 million, or $0.36 per weighted average share Net asset value of $12.77 per share compared to $12.87 per share as of December 31, 2023. The 0.8% decline is driven by stable core credit performance, offset by a decrease in value in one of the Company's equity positions Internal ris
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended March 31, 2024 on Wednesday, May 1, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, May 2, 2024. During the live conference call, the Company's officers will review the first quarter performance, discuss recent events and conduct a question-and-answer session. First Quarter 2024 Conference Call Information To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any delays, pl
Reports Net Investment Income of $0.40 per Share Declares a First Quarter Regular Distribution of $0.32 per Share and a Supplemental Distribution of $0.04 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "NMFC," "New Mountain Finance" or the "Company") today announced its financial results for the quarter and year ended December 31, 2023. In line with preliminary estimates reported on January 18, 2024, the Company reported fourth quarter net investment income ("NII") of $0.40 per weighted average share and net asset value ("NAV") per share of $12.87, compared to $13.06 on September 30, 2023, a decline of 0.7% excluding the impact of the $0.10 special dividend pa
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain"), the publicly traded credit BDC arm of New Mountain Capital, today announced the appointment of Kris Corbett as Chief Financial Officer, effective November 27, 2023. "We are pleased to welcome Kris Corbett to the New Mountain credit team," said John R. Kline, Chief Executive Officer of New Mountain Finance Corporation. "Kris has deep domain experience in the direct lending industry and extensive experience leading high-performing finance teams. We expect him to be a tremendous asset to our growing platform." "I would like to welcome Kris as the next CFO of NMFC and the leader of our overall finance function within our credi
NEW YORK--(BUSINESS WIRE)--New Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC” or “the Company”) today announced that its board of directors has authorized an extension of a program for the purpose of repurchasing up to $50 million worth of its common stock, to be implemented at the discretion of NMFC’s management team. Under the repurchase program, NMFC may, but is not obligated to, repurchase its outstanding common stock in the open market from time to time provided that NMFC complies with the prohibitions under its Code of Ethics and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing co
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497AD - New Mountain Finance Corp (0001496099) (Filer)
497AD - New Mountain Finance Corp (0001496099) (Filer)
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
Reports Adjusted Net Investment Income1 of $0.34 per Share Declares a Regular Fourth Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.01 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended September 30, 2024. Third Quarter Highlights2 Adjusted net investment income1 of $36.7 million, or $0.34 per weighted average share Net asset value of $12.62 per share compared to $12.74 per share as of June 30, 2024 Continued strong credit performance with approximately 97.3% of the portfolio rated green on our internal risk rating system, up fro
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended September 30, 2024 on Wednesday October 30, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, October 31, 2024. During the live conference call, the Company's officers will review the third quarter performance, discuss recent events and conduct a question-and-answer session. Third Quarter 2024 Conference Call Information To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid an
Reports Net Investment Income of $0.36 per Share Declares a Regular Third Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended June 30, 2024. Second Quarter Highlights1 Net investment income of $38.2 million, or $0.36 per weighted average share Net asset value of $12.74 per share compared to $12.77 per share as of March 31, 2024 Plan to permanently reduce base management fee to 1.25% Amending and extending the dividend protection program Continued strong credit performan
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended June 30, 2024 on Wednesday, July 31, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, August 1, 2024. During the live conference call, the Company's officers will review the second quarter performance, discuss recent events and conduct a question-and-answer session. Second Quarter 2024 Conference Call Information To participate in the live earnings conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any d
Reports Net Investment Income of $0.36 per Share Declares a Regular Second Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "New Mountain Finance" or the "Company") today announced its financial results for the quarter ended March 31, 2024. First Quarter Highlights1 Net investment income of $37.3 million, or $0.36 per weighted average share Net asset value of $12.77 per share compared to $12.87 per share as of December 31, 2023. The 0.8% decline is driven by stable core credit performance, offset by a decrease in value in one of the Company's equity positions Internal ris
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter ended March 31, 2024 on Wednesday, May 1, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Thursday, May 2, 2024. During the live conference call, the Company's officers will review the first quarter performance, discuss recent events and conduct a question-and-answer session. First Quarter 2024 Conference Call Information To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any delays, pl
Reports Net Investment Income of $0.40 per Share Declares a First Quarter Regular Distribution of $0.32 per Share and a Supplemental Distribution of $0.04 per Share New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain," "NMFC," "New Mountain Finance" or the "Company") today announced its financial results for the quarter and year ended December 31, 2023. In line with preliminary estimates reported on January 18, 2024, the Company reported fourth quarter net investment income ("NII") of $0.40 per weighted average share and net asset value ("NAV") per share of $12.87, compared to $13.06 on September 30, 2023, a decline of 0.7% excluding the impact of the $0.10 special dividend pa
New Mountain Finance Corporation (NASDAQ:NMFC) ("NMFC", "the Company", "we" or "our") today announced its preliminary estimates of its financial condition and results of operations as of and for the three months ended December 31, 2023, which are estimated as of January 17, 2024. We estimate that our net investment income per share for the three months ended December 31, 2023 was between $0.39 per share and $0.40 per share, calculated using 101,638,346 weighted average shares for the three months ended December 31, 2023. We estimate that our net asset value per share as of December 31, 2023 was between $12.85 per share and $12.90 per share. This estimate is net of the $0.10 per share spec
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release its financial results for the quarter and year ended December 31, 2023 on Monday, February 26, 2024 after markets close. The Company will host an earnings conference call and webcast at 10:00 am Eastern Time on Tuesday, February 27, 2024. During the live conference call, the Company's officers will review the fourth quarter and year ended December 31, 2023 performance, discuss recent events and conduct a question-and-answer session. Fourth Quarter and Year Ended 2023 Conference Call Information To participate in the live earning conference call, please use the following