New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company's investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. The Company's first lien debt may include traditional first lien senior secured loans or unitranche loans. Unitranche loans combine characteristics of traditional first lien senior secured loans as well as second lien and subordinated loans. Unitranche loans will expose the Company to the risks associated with second lien and subordinated loans to the extent it invests in the 'last out' tranche. In some cases, the investments may also include small equity interests. The Company's investment activities are managed by its Investment Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.
Company profile
Ticker
NMFC
Exchange
Website
CEO
Robert Hamwee
Employees
Incorporated
Location
Fiscal year end
Former names
New Mountain Guardian Corp
SEC CIK
Corporate docs
IRS number
272978010
SEC advisor number
801-79743
FINRA CRD number
171546
Employees
129
(20 investment advisory or research)
Address
New Mountain Finance
1633 BROADWAY
48TH FLOOR
NEW YORK
NY 10019
1633 BROADWAY
48TH FLOOR
NEW YORK
NY 10019
Office hours
Monday - Friday, 8:30 AM - 6:00 PM
Phone
2127300200
NMFC stock data
Ownership
| Owner | Title | From | %Ownership |
|---|---|---|---|
| Hamwee, Robert, Alan | Chief Executive Officer | 10/2010 | < 5% |
| Weinstein, Adam | Executive Vice President and Chief Administrative Officer | 01/2013 | < 5% |
| Klinsky, Steven, Bruce | Chairman of the Board | 10/2010 | 5-10% |
| Kline, John, Randolph | President and Chief Operating Officer | 01/2013 | < 5% |
| Jerry, Karrie, Jean | Chief Compliance Officer and Corporate Secretary | 06/2015 | < 5% |
| Kajee, Shiraz, Younus | Chief Financial Officer | 12/2015 | < 5% |
Latest filings (excl ownership)
8-K
Departure of Directors or Certain Officers
24 Mar 23
8-K
New Mountain Finance Corporation Prices Reopening of $60 Million of 7.50% Convertible Notes Due 2025
9 Mar 23
DEFA14A
Additional proxy soliciting materials
8 Mar 23
DEF 14A
Definitive proxy
8 Mar 23
8-K
Reports Adjusted Net Investment Income of $0.35 per share
27 Feb 23
10-K
2022 FY
Annual report
27 Feb 23
8-K
Other Events
28 Dec 22
SC TO-I/A
Issuer tender offer statement (amended)
7 Dec 22
10-Q
2022 Q3
Quarterly report
8 Nov 22
8-K
New Mountain Finance Corporation Announces Third Quarter Financial Results
8 Nov 22
Transcripts
NMFC
Earnings call transcript
2022 Q4
28 Feb 23
NMFC
Earnings call transcript
2022 Q3
9 Nov 22
NMFC
Earnings call transcript
2022 Q2
9 Aug 22
NMFC
Earnings call transcript
2022 Q1
10 May 22
NMFC
Earnings call transcript
2021 Q4
1 Mar 22
NMFC
Earnings call transcript
2021 Q3
4 Nov 21
NMFC
Earnings call transcript
2021 Q2
5 Aug 21
NMFC
Earnings call transcript
2021 Q1
6 May 21
NMFC
Earnings call transcript
2020 Q4
25 Feb 21
NMFC
Earnings call transcript
2020 Q3
5 Nov 20
Latest ownership filings
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 71.19 mm | 71.19 mm | 71.19 mm | 71.19 mm | 71.19 mm | 71.19 mm |
| Cash burn (monthly) | (no burn) | (no burn) | 500.00 k | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | n/a | n/a | 1.49 mm | n/a | n/a | n/a |
| Cash remaining | n/a | n/a | 69.70 mm | n/a | n/a | n/a |
| Runway (months of cash) | n/a | n/a | 139.4 | n/a | n/a | n/a |
Institutional ownership, Q4 2022
40.5% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 159 |
| Opened positions | 30 |
| Closed positions | 19 |
| Increased positions | 49 |
| Reduced positions | 38 |
| 13F shares | Current |
|---|---|
| Total value | 342.49 bn |
| Total shares | 40.86 mm |
| Total puts | 7.70 k |
| Total calls | 47.40 k |
| Total put/call ratio | 0.2 |
| Largest owners | Shares | Value |
|---|---|---|
| Radcliffe Capital Management | 7.24 mm | $0.00 |
| Cerity Partners | 3.74 mm | $46.24 bn |
| Allspring Global Investments | 3.11 mm | $38.52 bn |
| HighTower Advisors | 2.48 mm | $30.62 bn |
| LSV Asset Management | 2.40 mm | $29.68 mm |
| MS Morgan Stanley | 1.76 mm | $21.77 bn |
| Cliffwater | 1.48 mm | $18.29 bn |
| Van Eck Associates | 1.25 mm | $15.45 mm |
| Dimension Capital Management | 1.22 mm | $15.04 bn |
| JPM JPMorgan Chase & Co. | 1.12 mm | $13.86 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 17 Mar 23 | Klinsky Steven B | Common Stock | Buy | Acquire P | No | No | 11.7417 | 100,000 | 1.17 mm | 7,820,680.97 |
| 16 Mar 23 | Klinsky Steven B | Common Stock | Buy | Acquire P | No | No | 11.7154 | 100,000 | 1.17 mm | 7,720,680.97 |
| 15 Mar 23 | Klinsky Steven B | Common Stock | Buy | Acquire P | No | No | 11.8306 | 100,000 | 1.18 mm | 7,620,680.97 |
| 14 Mar 23 | James Stone | Common Stock | Buy | Acquire P | No | No | 11.95 | 3,700 | 44.22 k | 129,669.9 |
| 14 Mar 23 | James Stone | Common Stock | Buy | Acquire P | No | No | 11.9599 | 7,300 | 87.31 k | 125,969.9 |
| 14 Mar 23 | Rome G. Arnold III | Common Stock | Buy | Acquire P | No | No | 12.0183 | 10,000 | 120.18 k | 62,291 |
| 14 Mar 23 | Klinsky Steven B | Common Stock | Buy | Acquire P | No | No | 11.9577 | 100,000 | 1.20 mm | 7,520,680.97 |
| 13 Mar 23 | Klinsky Steven B | Common Stock | Buy | Acquire P | No | No | 11.6997 | 100,000 | 1.17 mm | 7,420,680.97 |
Press releases
New Mountain Finance Corporation Prices Reopening of $60 Million of 7.50% Convertible Notes Due 2025
9 Mar 23
New Mountain Finance Corporation Announces Financial Results for the Quarter and Year Ended December 31, 2022
27 Feb 23
New Mountain Finance Corporation Schedules its Fourth Quarter and Year Ended December 31, 2022 Earnings Release and Conference Call
5 Jan 23