New Mountain Finance Co. (NASDAQ:NMFC) Director Purchases $401,319.17 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 34,867 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $11.51 per share, with a total value of $401,319.17. Following the purchase, the director now owns 4,056,324 shares of the company’s stock, valued at approximately $46,688,289.24. This trade represents a 0.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

New Mountain Finance Trading Up 2.0 %

NMFC stock traded up $0.23 during trading on Friday, reaching $11.76. The company had a trading volume of 419,970 shares, compared to its average volume of 422,855. New Mountain Finance Co. has a 52 week low of $10.61 and a 52 week high of $13.23. The business has a 50 day moving average of $11.62 and a 200 day moving average of $12.10. 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 P/E ratio of 10.98 and a beta of 1.15.

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

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.33 per share. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 11.22%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.91%.

Institutional Investors Weigh In On New Mountain Finance

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in New Mountain Finance by 21.6% during the second quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock valued at $25,467,000 after purchasing an additional 369,695 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in New Mountain Finance by 1,017.3% in the 3rd quarter. International Assets Investment Management LLC now owns 374,487 shares of the company’s stock worth $4,486,000 after buying an additional 340,969 shares during the period. HighTower Advisors LLC grew its position in shares of New Mountain Finance by 7.6% during the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after purchasing an additional 237,594 shares in the last quarter. Acadian Asset Management LLC boosted its stake in New Mountain Finance by 78.5% in the 2nd quarter. Acadian Asset Management LLC now owns 314,058 shares of the company’s stock worth $3,839,000 after purchasing an additional 138,157 shares during the period. Finally, Tranquility Partners LLC grew its holdings in New Mountain Finance by 37.2% during the 2nd quarter. Tranquility Partners LLC now owns 388,753 shares of the company’s stock valued at $4,763,000 after buying an additional 105,433 shares in the last quarter. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.