New Mountain Finance (NASDAQ:NMFC) COO Laura Holson Boswerger Acquires 12,500 Shares

New Mountain Finance Corporation (NASDAQ:NMFC) COO Laura Holson Boswerger purchased 12,500 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $7.74 per share, with a total value of $96,750.00. Following the purchase, the chief operating officer directly owned 81,030 shares in the company, valued at $627,172.20. This represents a 18.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC traded up $0.14 during mid-day trading on Monday, reaching $7.79. The company’s stock had a trading volume of 2,129,228 shares, compared to its average volume of 1,133,939. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16. New Mountain Finance Corporation has a 52 week low of $7.52 and a 52 week high of $11.81. The stock has a fifty day moving average of $8.73 and a two-hundred day moving average of $9.39. The firm has a market capitalization of $803.62 million, a PE ratio of 51.93 and a beta of 0.59.

New Mountain Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 16.4%. New Mountain Finance’s dividend payout ratio is currently 853.33%.

Institutional Trading of New Mountain Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMFC. Millennium Management LLC lifted its position in shares of New Mountain Finance by 36.9% during the first quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock worth $7,843,000 after purchasing an additional 191,518 shares during the last quarter. Spire Wealth Management lifted its holdings in New Mountain Finance by 4.0% during the 2nd quarter. Spire Wealth Management now owns 39,200 shares of the company’s stock valued at $414,000 after buying an additional 1,500 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in New Mountain Finance in the 2nd quarter valued at about $126,000. Next Capital Management LLC purchased a new stake in New Mountain Finance in the 2nd quarter valued at about $276,000. Finally, Huntington National Bank boosted its holdings in shares of New Mountain Finance by 311.8% in the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after purchasing an additional 3,433 shares during the period. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. B. Riley Financial reissued a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of New Mountain Finance in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Wells Fargo & Company cut their target price on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.83.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.