Steven B. Klinsky Purchases 2,400 Shares of New Mountain Finance Co. (NASDAQ:NMFC) Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 2,400 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was bought at an average cost of $11.74 per share, for a total transaction of $28,176.00. Following the completion of the acquisition, the director now directly owns 4,118,522 shares of the company’s stock, valued at approximately $48,351,448.28. This represents a 0.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

New Mountain Finance Trading Up 0.8 %

Shares of NASDAQ NMFC opened at $11.94 on Monday. The company has a market cap of $1.29 billion, a PE ratio of 11.37 and a beta of 1.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The firm’s 50 day moving average price is $11.59 and its 200-day moving average price is $12.06. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its 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). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 11.06%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is presently 121.90%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their price target on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Institutional Trading of New Mountain Finance

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its holdings in shares of New Mountain Finance by 21.6% during the second quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company’s stock valued at $25,467,000 after purchasing an additional 369,695 shares during the last quarter. International Assets Investment Management LLC grew its position in New Mountain Finance by 1,017.3% in the 3rd quarter. International Assets Investment Management LLC now owns 374,487 shares of the company’s stock worth $4,486,000 after purchasing an additional 340,969 shares during the period. HighTower Advisors LLC lifted its holdings in shares of New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after buying an additional 237,594 shares during the period. Franklin Resources Inc. bought a new position in shares of New Mountain Finance during the 3rd quarter valued at $2,608,000. Finally, Acadian Asset Management LLC boosted its stake in shares of New Mountain Finance by 78.5% in the 2nd quarter. Acadian Asset Management LLC now owns 314,058 shares of the company’s stock worth $3,839,000 after buying an additional 138,157 shares during 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 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.