Insider Buying: New Mountain Finance Co. (NASDAQ:NMFC) Director Buys 2,400 Shares of Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 2,400 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was acquired at an average cost of $11.74 per share, for a total transaction of $28,176.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

New Mountain Finance Stock Performance

Shares of NASDAQ NMFC traded up $0.10 during midday trading on Friday, hitting $11.94. 143,076 shares of the company’s stock traded hands, compared to its average volume of 420,615. New Mountain Finance Co. has a 1 year low of $10.61 and a 1 year high of $13.23. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.26 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 has a fifty day moving average of $11.59 and a 200 day moving average of $12.07.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $95.33 million during the quarter, compared to analysts’ expectations of $94.10 million. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share 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. Investors of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.06%. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their target price 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.

Institutional Trading of New Mountain Finance

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in New Mountain Finance during the third quarter worth $26,000. Quarry LP lifted its position in New Mountain Finance by 68.3% in the second quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after buying an additional 1,342 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of New Mountain Finance in the second quarter valued at $98,000. Lazard Asset Management LLC purchased a new stake in New Mountain Finance during the 1st quarter worth approximately $126,000. Finally, Quantbot Technologies LP acquired a new stake in New Mountain Finance in the 3rd quarter valued at about $129,000. 32.08% of the stock is currently 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.