Steven B. Klinsky Acquires 6,200 Shares of New Mountain Finance Co. (NASDAQ:NMFC) Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky purchased 6,200 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $11.75 per share, with a total value of $72,850.00. Following the completion of the purchase, the director now owns 4,122,655 shares of the company’s stock, valued at $48,441,196.25. The trade was a 0.15 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

New Mountain Finance Stock Performance

NMFC stock traded down $0.11 during trading on Thursday, hitting $11.75. 537,721 shares of the company traded hands, compared to its average volume of 420,938. The stock’s 50-day simple moving average is $11.58 and its 200 day simple moving average is $12.05. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.27 billion, a PE ratio of 11.19 and a beta of 1.15. New Mountain Finance Co. has a 1 year low of $10.61 and a 1 year high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $95.33 million during the quarter, compared to analyst estimates of $94.10 million. During the same period in the previous year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 11.23%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price target on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new position in shares of New Mountain Finance during the 3rd quarter worth about $2,608,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of New Mountain Finance in the 3rd quarter valued at about $168,000. Jane Street Group LLC acquired a new stake in shares of New Mountain Finance in the 3rd quarter valued at about $375,000. Stifel Financial Corp boosted its position in shares of New Mountain Finance by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock valued at $565,000 after purchasing an additional 2,389 shares during the period. Finally, HighTower Advisors LLC lifted its position in New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after acquiring an additional 237,594 shares during the period. 32.08% of the stock is owned by institutional investors and hedge funds.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.