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New Mountain Finance Corporation Prices Public Offering of $300 Million 6.875% Notes Due 2029
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New Mountain Finance Corp is a closed-end, non-diversified management investment company. It invests in equity interests such as preferred stock, common stock, warrants, or options received in connection with debt investments or may include direct investment in the equity of private companies. The company's investment objective is to generate current income and capital appreciation through sourcing and origination of debt securities at all levels of the capital structure, including first and second-lien debt, notes, bonds, and mezzanine securities.
New Mountain Finance trades on the NASDAQ stock market under the symbol NMFC.
As of March 28, 2024, NMFC stock price climbed to $12.67 with 707,606 million shares trading.
NMFC has a beta of 0.41, meaning it tends to be less sensitive to market movements. NMFC has a correlation of 0.15 to the broad based SPY ETF.
NMFC has a market cap of $1.30 billion. This is considered a Small Cap stock.
Last quarter New Mountain Finance reported $93 million in Revenue and $.40 earnings per share. This fell short of revenue expectation by $-480,000 and met earnings estimates .
In the last 3 years, NMFC stock traded as high as $14.11 and as low as $11.09.
The top ETF exchange traded funds that NMFC belongs to (by Net Assets): BIZD, VPC, ISMD.
NMFC has underperformed the market in the last year with a return of +17.4%, while the SPY ETF gained +33.6%. In the last 3 month period, NMFC fell short of the market, returning +1.5%, while SPY returned +10.1%. However, in the most recent 2 weeks NMFC has outperformed the stock market by returning +4.4%, while SPY returned +1.7%.
NMFC support price is $12.49 and resistance is $12.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NMFC stock will trade within this expected range on the day.