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Last $14.83 USD
Change Today -0.03 / -0.20%
Volume 219.8K
NMFC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

new mountain finance corp (NMFC) Snapshot

Open
$14.83
Previous Close
$14.86
Day High
$14.94
Day Low
$14.76
52 Week High
09/4/14 - $15.50
52 Week Low
10/15/14 - $13.93
Market Cap
862.5M
Average Volume 10 Days
239.8K
EPS TTM
$1.43
Shares Outstanding
58.2M
EX-Date
09/14/15
P/E TM
10.4x
Dividend
$1.36
Dividend Yield
9.17%
Current Stock Chart for NEW MOUNTAIN FINANCE CORP (NMFC)

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new mountain finance corp (NMFC) Details

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. 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 $20 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.

new mountain finance corp (NMFC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Interim Chief Financial Officer and Treasurer...
Total Annual Compensation: --
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: --
Chief Administrative Officer, Executive Vice ...
Total Annual Compensation: --
Managing Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2015.

new mountain finance corp (NMFC) Key Developments

New Mountain Finance Corporation Declares Dividend for the Third Quarter of 2015, Payable on September 30, 2015; Announces Management Changes, Effective August 14, 2015

On August 4, 2015, New Mountain Finance Corporation announced that its board of directors declared a third quarter 2015 dividend of $0.34 per share, which will be payable on September 30, 2015 to holders of record as of September 16, 2015. David Cordova has indicated that he will be resigning from his position as CFO and Treasurer of the company for personal reasons, effective as of August 14, 2015. Mr. Cordova has indicated that he and his family will be relocating to the west coast to pursue a new venture and that his departure is not related to any disagreement with the management of the company. Melody Siu, the current Controller of the company, has agreed to step-in as interim CFO and Treasurer until a permanent replacement can be found. Adam Weinstein, the current CFO of New Mountain Capital, and former CFO of the company will be actively involved in overseeing the finance department during the transition period and the company expects to utilize the full resources of New Mountain Capital during that time.

New Mountain Finance Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

New Mountain Finance Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, total investment income was $37,905,000 compared to $33,708,000 for the same period last year. Net investment income was $20,253,000 compared to $17,289,000 for the same period last year. Net increase in net assets resulting from operations was $20,264,000 or $0.33 per diluted share against $23,662,000 or $0.44 per diluted share for the same period a year ago. Adjusted net investment income was $0.35 per weighted average share. The company's total adjusted investment income for the three months ended June 30, 2015 and 2014 were approximately $37.9 million and $33.7 million, respectively. For the six months, total investment income was $74,441,000 compared to $64,147,000 for the same period last year. Net investment income was $39,315,000 compared to $33,347,000 for the same period last year. Net increase in net assets resulting from operations was $43,178,000 or $0.70 per diluted share against $47,110,000 or $0.94 per diluted share for the same period a year ago. Adjusted net investment income was $0.69 per weighted average share.

New Mountain Finance Corporation Enters into Amendment No. 2 to the Existing Senior Secured Revolving Credit Facility Maturing on June 4, 2019

On June 26, 2015, New Mountain Finance Corporation entered into Amendment No. 2 to the company's existing senior secured revolving credit facility maturing on June 4, 2019 provided by Goldman Sachs Bank USA as the Administrative Agent and Issuing Bank and Goldman Sachs Bank USA and Morgan Stanley Bank, N.A. as Lenders. The Amendment adds Stifel Bank & Trust as a new lender to the NMFC Credit Facility with a $15 million commitment, bringing total commitments under the NMFC Credit Facility to $95 million. The Amendment also increases the accordion feature of the NMFC Credit Facility from $100 million to $150 million.

 

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