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

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

New Mountain Finance Stock Up 2.0 %

NMFC stock opened at $11.76 on Monday. The company has a market capitalization of $1.27 billion, a P/E ratio of 11.20 and a beta of 1.15. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.23. The firm’s fifty day simple moving average is $11.61 and its 200-day simple moving average is $12.09. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

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

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their target price 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.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in shares of New Mountain Finance during the 3rd quarter worth approximately $26,000. Quarry LP boosted its holdings in New Mountain Finance by 68.3% during the second quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after buying an additional 1,342 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in New Mountain Finance during the first quarter valued at $52,000. Clearstead Trust LLC purchased a new position in New Mountain Finance in the second quarter valued at $98,000. Finally, Lazard Asset Management LLC acquired a new position in shares of New Mountain Finance in the first quarter worth about $126,000. 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.