Welcome to our dedicated page for New Mountain Finance news (Ticker: NMFC), a resource for investors and traders seeking the latest updates and insights on New Mountain Finance stock.
New Mountain Finance Corporation reports news centered on its direct lending portfolio for U.S. upper middle market companies backed by private equity sponsors. The company seeks current income and capital appreciation through senior secured loans and select junior capital positions, with portfolio updates commonly organized across software, business services, healthcare, financial services and technology, and other industries.
Recurring announcements cover quarterly financial results, net investment income, net asset value, distributions, earnings calls, portfolio credit quality, capital actions, credit-facility activity and completed portfolio transactions. Updates also reference the company's relationship with the New Mountain Capital credit platform and its focus on lending to businesses in defensive industries.
New Mountain Finance Corporation (NASDAQ: NMFC) reported its fourth-quarter financial results for 2020, highlighting a net investment income of $0.30 per share. The company’s net asset value (NAV) rose to $12.62, up from $12.24 in Q3 2020, but down from $13.26 in Q4 2019. NMFC declared a first-quarter distribution of $0.30 per share, set for March 31, 2021. The investment portfolio totaled approximately $2.97 billion at the end of 2020, with a statutory debt/equity ratio of 1.24x. Despite a slight year-over-year decline in total investment income, the company indicates strong credit performance and a stable outlook.
New Mountain Finance Corporation (Nasdaq: NMFC) has successfully closed a $200 million private placement of 3.875% Series 2021A Unsecured Notes due January 29, 2026. The proceeds will be used to redeem existing 5.31% Unsecured Notes due May 2021 and for general corporate purposes. This offering addresses near-term debt maturities and reduces NMFC's overall cost of capital while maintaining a diversified funding profile. Deutsche Bank Securities acted as the exclusive placement agent for this offering.
New Mountain Finance Corporation (Nasdaq: NMFC) announced it will release its financial results for the quarter ended December 31, 2020, on February 24, 2021, after market close. A dividend for Q1 2021 will also be announced. The company will host an earnings conference call on February 25, 2021, at 10:00 am ET, where officers will review performance and hold a Q&A session.
This presentation provides stakeholders with insights into recent developments, reflecting the Company's commitment to transparency and shareholder engagement.
New Mountain Finance Corporation (NASDAQ: NMFC) has extended its stock repurchase program, allowing for the buyback of up to $50 million of its common stock. To date, $2.9 million worth of shares have been repurchased. The board believes market volatility has caused NMFC's stock to be potentially undervalued. The program will remain active until December 31, 2021, or until the full amount is repurchased. Management has discretion over timing and quantity of repurchases, which are subject to regulatory compliance.
New Mountain Finance Corporation (NASDAQ: NMFC) reported third quarter financial results for the period ended September 30, 2020, showing a net investment income of $0.30 per share. The net asset value (NAV) per share increased to $12.24 from $11.63 at the end of June 2020. The company declared a fourth-quarter distribution of $0.30 per share, payable on December 30, 2020. Total investment income for Q3 2020 was approximately $65.3 million, compared to $72.6 million in Q3 2019. The company's investment portfolio totaled approximately $2.9 billion, with a focus on stable credit performance.
New Mountain Finance Corporation (Nasdaq: NMFC) will release its financial results for Q3 2020 on November 4, 2020, after market close. The earnings conference call is scheduled for November 5 at 10:00 AM ET, where company officers will discuss performance and recent events. Participants can join by dialing +1 (877) 443-9109 domestically or +1 (412) 317-1082 internationally. The call will also be available via webcast on the company's website.