New Mountain Finance (NASDAQ:NMFC) Director Steven Klinsky Acquires 223,758 Shares

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky purchased 223,758 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $8.05 per share, with a total value of $1,801,251.90. Following the completion of the transaction, the director owned 5,186,696 shares of the company’s stock, valued at $41,752,902.80. The trade was a 4.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

New Mountain Finance Stock Performance

NASDAQ NMFC traded down $0.11 during trading hours on Thursday, hitting $7.92. The company had a trading volume of 1,569,313 shares, compared to its average volume of 1,228,347. The business has a 50 day moving average of $8.55 and a 200-day moving average of $9.26. The company has a market cap of $817.00 million, a PE ratio of 52.80 and a beta of 0.59. New Mountain Finance Corporation has a 1-year low of $7.52 and a 1-year high of $11.23. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16.

New Mountain Finance Dividend Announcement

The company 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 $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 16.2%. New Mountain Finance’s dividend payout ratio is 853.33%.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new stake in New Mountain Finance during the 4th quarter valued at approximately $7,450,000. Virtu Financial LLC grew its stake in shares of New Mountain Finance by 66.9% in the 4th quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock valued at $202,000 after purchasing an additional 8,785 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of New Mountain Finance in the fourth quarter valued at approximately $146,000. XTX Topco Ltd acquired a new position in shares of New Mountain Finance in the fourth quarter valued at approximately $1,728,000. Finally, VARCOV Co. purchased a new stake in shares of New Mountain Finance during the fourth quarter worth approximately $853,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. 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 on the stock in a report on Thursday, February 26th. Finally, B. Riley Financial reduced their price target on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $9.25.

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.