Steven Klinsky Buys 250,495 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 250,495 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average cost of $7.94 per share, with a total value of $1,988,930.30. Following the completion of the purchase, the director directly owned 4,754,338 shares of the company’s stock, valued at $37,749,443.72. This represents a 5.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

New Mountain Finance Trading Down 0.6%

NMFC traded down $0.05 during trading on Thursday, reaching $8.10. The company had a trading volume of 1,445,636 shares, compared to its average volume of 1,181,129. New Mountain Finance Corporation has a 52 week low of $7.52 and a 52 week high of $11.46. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The business has a 50 day simple moving average of $8.66 and a 200-day simple moving average of $9.35. The stock has a market cap of $835.60 million, a P/E ratio of 54.00 and a beta of 0.59.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 15.8%. New Mountain Finance’s dividend payout ratio is 853.33%.

Analyst Ratings Changes

Several brokerages have recently commented on NMFC. Wells Fargo & Company decreased their price objective 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. Zacks Research lowered New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods decreased their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday. B. Riley Financial lowered their price objective on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $9.25.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC purchased a new position in shares of New Mountain Finance during the 4th quarter worth $12,326,000. Corient Private Wealth LLC purchased a new stake in New Mountain Finance during the fourth quarter worth approximately $7,450,000. Closed End Fund Advisors Inc. acquired a new position in shares of New Mountain Finance during the 4th quarter valued at $5,398,000. Truffle Hound Capital LLC purchased a new stake in shares of New Mountain Finance in the fourth quarter worth about $5,066,000. Finally, JPMorgan Chase & Co. grew its stake in shares of New Mountain Finance by 27.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after buying an additional 443,016 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

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.