New Mountain Finance Co. (NASDAQ:NMFC) CEO Buys $453,726.00 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline bought 41,550 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the acquisition, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

New Mountain Finance Stock Up 2.0 %

Shares of NMFC stock traded up $0.22 during mid-day trading on Friday, hitting $11.31. 779,250 shares of the stock traded hands, compared to its average volume of 420,634. The stock’s fifty day moving average is $11.77 and its two-hundred day moving average is $12.18. 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 Co. has a 52-week low of $10.61 and a 52-week high of $13.23. The stock has a market cap of $1.22 billion, a P/E ratio of 10.76 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Equities analysts predict that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.67%. This is a boost 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 is 121.91%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price objective on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On New Mountain Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMFC. Csenge Advisory Group purchased a new stake in shares of New Mountain Finance in the 1st quarter valued at approximately $227,000. Tranquility Partners LLC increased its stake in New Mountain Finance by 182.4% during the first quarter. Tranquility Partners LLC now owns 283,320 shares of the company’s stock worth $3,590,000 after acquiring an additional 182,990 shares during the last quarter. ProShare Advisors LLC raised its position in New Mountain Finance by 16.0% in the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock valued at $165,000 after purchasing an additional 1,800 shares during the period. Condor Capital Management lifted its stake in shares of New Mountain Finance by 9.6% in the 1st quarter. Condor Capital Management now owns 271,667 shares of the company’s stock valued at $3,442,000 after purchasing an additional 23,902 shares during the last quarter. Finally, Midwest Professional Planners LTD. increased its position in shares of New Mountain Finance by 24.7% during the 1st quarter. Midwest Professional Planners LTD. now owns 108,830 shares of the company’s stock worth $1,379,000 after purchasing an additional 21,522 shares during the last quarter. Institutional investors and hedge funds 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.