Adam Weinstein Acquires 12,900 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) EVP Adam Weinstein purchased 12,900 shares of New Mountain Finance stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $7.61 per share, for a total transaction of $98,169.00. Following the completion of the acquisition, the executive vice president owned 751,756 shares of the company’s stock, valued at approximately $5,720,863.16. The trade was a 1.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

New Mountain Finance Stock Down 0.1%

Shares of NASDAQ NMFC opened at $7.89 on Friday. The company has a 50 day simple moving average of $8.38 and a 200 day simple moving average of $9.16. The firm has a market cap of $813.93 million, a PE ratio of 52.60 and a beta of 0.59. New Mountain Finance Corporation has a 1 year low of $7.51 and a 1 year high of $11.20. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 16.2%. New Mountain Finance’s payout ratio is currently 853.33%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. B. Riley Financial lowered their target price on 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. Wells Fargo & Company reduced their price target on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Keefe, Bruyette & Woods decreased their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $9.25.

Institutional Trading of New Mountain Finance

Large investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in New Mountain Finance by 23.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock worth $5,844,000 after purchasing an additional 114,840 shares during the period. JPMorgan Chase & Co. lifted its stake in New Mountain Finance by 29.5% in the third quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company’s stock valued at $15,382,000 after buying an additional 363,443 shares during the period. Franklin Resources Inc. lifted its stake in New Mountain Finance by 18.1% in the second quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock valued at $6,788,000 after buying an additional 98,603 shares during the period. Dimension Capital Management LLC boosted its holdings in shares of New Mountain Finance by 17.0% during the 2nd quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock worth $10,023,000 after buying an additional 138,123 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of New Mountain Finance by 17.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 480,420 shares of the company’s stock worth $4,631,000 after buying an additional 70,277 shares in the last quarter. 32.08% of the stock is currently owned by institutional investors and hedge funds.

About New Mountain Finance

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.