New Mountain Finance Co. (NASDAQ:NMFC) Director Purchases $815,318.40 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 72,280 shares of New Mountain Finance stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $11.28 per share, for a total transaction of $815,318.40. Following the completion of the purchase, the director now owns 4,285,505 shares of the company’s stock, valued at approximately $48,340,496.40. This represents a 1.72 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

New Mountain Finance Stock Up 0.6 %

Shares of NMFC traded up $0.07 during mid-day trading on Thursday, reaching $11.18. The company’s stock had a trading volume of 691,824 shares, compared to its average volume of 427,225. The company’s 50 day moving average is $11.56 and its 200 day moving average is $11.99. The stock has a market cap of $1.21 billion, a PE ratio of 10.65 and a beta of 1.15. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.11. 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 (NASDAQ:NMFC) last issued its quarterly earnings data 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). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a yield of 11.81%. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. purchased a new position in New Mountain Finance in the 3rd quarter valued at $2,608,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of New Mountain Finance during the 3rd quarter worth approximately $168,000. Jane Street Group LLC acquired a new position in New Mountain Finance during the third quarter worth about $375,000. Stifel Financial Corp boosted its stake in shares of New Mountain Finance by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock worth $565,000 after purchasing an additional 2,389 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in New Mountain Finance by 7.6% during the third quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after purchasing an additional 237,594 shares during the period. 32.08% of the stock is currently owned by institutional investors and hedge funds.

About New Mountain Finance

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.