New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Acquires 2,400 Shares

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky purchased 2,400 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was purchased at an average cost of $11.74 per share, for a total transaction of $28,176.00. Following the purchase, the director now directly owns 4,118,522 shares in the company, valued at approximately $48,351,448.28. This trade represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $11.94 on Friday. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.23. The firm’s 50 day moving average is $11.59 and its 200-day moving average is $12.07. The company has a market capitalization of $1.29 billion, a PE ratio of 11.37 and a beta of 1.15. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

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

New Mountain Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 17th. This represents a $1.32 annualized dividend and a dividend yield of 11.06%. New Mountain Finance’s payout ratio is 121.91%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On New Mountain Finance

Large investors have recently made changes to their positions in the stock. Cerity Partners LLC increased its holdings in New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock worth $45,811,000 after buying an additional 100,315 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of New Mountain Finance by 16.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock worth $3,809,000 after purchasing an additional 44,114 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of New Mountain Finance by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock valued at $25,980,000 after purchasing an additional 168,719 shares during the period. Condor Capital Management lifted its stake in New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company’s stock valued at $4,264,000 after purchasing an additional 76,739 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in New Mountain Finance by 54.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company’s stock valued at $2,318,000 after purchasing an additional 67,990 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

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.