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New Mountain Finance (NMFC)

Company Profile
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.
New Mountain Finance logo

Company profile

Ticker
NMFC
Exchange
NASDAQ
Website
www.newmountainfinance.com
CEO
Robert Hamwee
Employees
Incorporated
Delaware
Location
New York
Fiscal year end
Dec 31
Sector
Finance and Insurance > Securities and Commodity Exchanges
Former names
New Mountain Guardian Corp
SEC CIK
0001496099
Corporate docs
Articles of Incorporation & Bylaws
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
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
Office hours
Monday - Friday, 8:30 AM - 6:00 PM
Phone
2127300200
Brochures
  • New Mountain Finance Corporation Part 2A Brochure July 1, 2021 (1 Jul 21)

NMFC stock data

Analyst ratings and price targets

Last 3 months
Wells Fargo
Maintains
Overweight
$12.50
10 Nov 22

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)
View all
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
SC TO-I
Issuer tender offer statement
4 Nov 22
8-K
New Mountain Finance Corporation Announces Completion of Offering of $200 Million of 7.50% Convertible Notes due 2025
2 Nov 22
8-K
Entry into a Material Definitive Agreement
28 Oct 22
10-Q
2022 Q2
Quarterly report
8 Aug 22
8-K
Results of Operations and Financial Condition
8 Aug 22
8-K
Entry into a Material Definitive Agreement
17 Jun 22
Transcripts
View all
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
NMFC
Earnings call transcript
2020 Q2
6 Aug 20
Latest ownership filings
View all
4
Rome G. Arnold III
20 Dec 22
4
Adam Weinstein
8 Sep 22
4
David Ogens
7 Sep 22
4
STEVEN B KLINSKY
6 Sep 22
4
ROBERT HAMWEE
17 Jun 22
4
Laura Holson Boswerger
14 Jun 22
4
Laura Holson Boswerger
26 May 22
4
Laura Holson Boswerger
24 May 22
4
Adam Weinstein
23 May 22
4
Joseph Hartswell
20 May 22

Financial summary

Financial statements Chart NMFC financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Financial data from company earnings reports.

Institutional ownership, Q3 2022

NMFC institutional ownership history Ownership history
32.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 147 160 -8.1%
Opened positions 14 26 -46.2%
Closed positions 27 14 +92.9%
Increased positions 46 53 -13.2%
Reduced positions 43 39 +10.3%
13F shares Current Prev Q Change
Total value 371.10 mm 390.44 mm -5.0%
Total shares 32.28 mm 32.94 mm -2.0%
Total puts 21.10 k 19.40 k +8.8%
Total calls 55.80 k 40.50 k +37.8%
Total put/call ratio 0.4 0.5 -21.1%
Largest owners Shares Value Change
Round Table Services 3.80 mm $43.78 mm +4.7%
Allspring Global Investments 3.11 mm $35.91 mm +0.3%
HighTower Advisors 2.37 mm $27.36 mm +7.1%
LSV Asset Management 2.20 mm $25.34 mm +4.8%
MS Morgan Stanley 1.78 mm $20.51 mm -0.1%
Cliffwater 1.37 mm $15.75 mm +7.9%
Dimension Capital Management 1.18 mm $13.57 mm -2.5%
Van Eck Associates 1.15 mm $13.21 mm -7.0%
JPM JPMorgan Chase & Co. 1.12 mm $12.96 mm +5.1%
Klinsky Steven B 1.02 mm $10.27 mm 0.0%
Largest transactions Shares Bought/sold Change
Steven Patrick Farmer 0.00 -403.19 k EXIT
Round Table Services 3.80 mm +171.03 k +4.7%
Assenagon Asset Management 0.00 -158.61 k EXIT
HighTower Advisors 2.37 mm +157.14 k +7.1%
Two Sigma Advisers 388.00 k -155.10 k -28.6%
Two Sigma Investments 321.63 k -155.07 k -32.5%
Altium Wealth Management 0.00 -147.07 k EXIT
BLK Blackrock 748.22 k +136.62 k +22.3%
Analyst IMS Investment Management Services 0.00 -111.23 k EXIT
Millennium Management 104.26 k -101.44 k -49.3%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

NMFC insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.9 5,928 76.47 k 395,643.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.895 2,435 31.40 k 389,715.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.885 1,200 15.46 k 387,280.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.89 820 10.57 k 386,080.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.88 5,931 76.39 k 385,260.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.87 2,819 36.28 k 379,329.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.875 603 7.76 k 376,510.213
6 Sep 22 Weinstein Adam Common Stock Buy Acquire P No No 12.865 200 2.57 k 375,907.213
2 Sep 22 Ogens David Common Stock Buy Acquire P No No 12.9152 2,600 33.58 k 123,452
1 Sep 22 Klinsky Steven B Common Stock Buy Acquire P Yes No 12.9 16 206.40 16
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
New Mountain Finance Corporation Extends Stock Repurchase Program From Dec 31, 2022 To Dec 31, 2023
28 Dec 22
New Mountain Finance Corporation (NASDAQ:NMFC) ("NMFC" or "the Company") today announced that on December 22, 2022 its board of directors authorized an extension of a previously established stock
Wells Fargo Maintains Overweight on New Mountain Finance, Lowers Price Target to $12.5
10 Nov 22
Wells Fargo analyst Finian O'Shea maintains New Mountain Finance (NASDAQ:NMFC) with a Overweight and lowers the price target from $13 to $12.5.
New Mountain Finance Q3 EPS $0.32 Beats $0.31 Estimate
8 Nov 22
New Mountain Finance (NASDAQ:NMFC) reported quarterly earnings of $0.32 per share which beat the analyst consensus estimate of $0.31 by 3.23 percent. This is a 3.23 percent increase over earnings of $0.31 per share from
Earnings Scheduled For November 8, 2022
8 Nov 22
Preview: New Mountain Finance's Earnings
7 Nov 22

Press releases

From Benzinga Pro
New Mountain Finance Corporation Schedules its Fourth Quarter and Year Ended December 31, 2022 Earnings Release and Conference Call
5 Jan 23
New Mountain Finance Corporation (NASDAQ:NMFC) ("New Mountain" or "the Company") announced today that it will release financial results for the quarter and year ended December 31, 2022 on Monday, February 27, 2023 after
New Mountain Finance Corporation Extends Stock Repurchase Program
28 Dec 22
New Mountain Finance Corporation (NASDAQ:NMFC) ("NMFC" or "the Company") today announced that on December 22, 2022 its board of directors authorized an extension of a previously established stock repurchase program (the
KBW Announces Index Rebalancing for Fourth Quarter 2022
9 Dec 22
NEW YORK, Dec. 09, 2022 (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.
New Mountain Finance Corporation Announces Third Quarter Financial Results
8 Nov 22
New Mountain Finance Corporation Announces Completion of Offering of $200 Million of 7.50% Convertible Notes due 2025
2 Nov 22
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