New Mountain Finance (NASDAQ:NMFC) Sees Large Volume Increase

New Mountain Finance Co. (NASDAQ:NMFC) shares saw an uptick in trading volume on Friday . 176,433 shares traded hands during trading, a decline of 58% from the previous session’s volume of 419,478 shares.The stock last traded at $12.24 and had previously closed at $12.21.

New Mountain Finance Stock Performance

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $12.53 and a two-hundred day moving average of $12.66.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The firm had revenue of $90.56 million for the quarter, compared to the consensus estimate of $90.08 million. New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities research analysts predict that New Mountain Finance Co. will post 1.43 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.28 annualized dividend and a dividend yield of 10.36%. New Mountain Finance’s dividend payout ratio is currently 115.32%.

Insider Buying and Selling

In other New Mountain Finance news, Director David Ogens acquired 3,500 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average price of $12.62 per share, for a total transaction of $44,170.00. Following the completion of the transaction, the director now owns 166,391 shares of the company’s stock, valued at approximately $2,099,854.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NMFC. Confluence Investment Management LLC bought a new position in New Mountain Finance in the first quarter valued at $5,249,000. International Assets Investment Management LLC grew its stake in shares of New Mountain Finance by 1,157.0% during the fourth quarter. International Assets Investment Management LLC now owns 426,352 shares of the company’s stock valued at $5,423,000 after buying an additional 392,434 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of New Mountain Finance during the fourth quarter valued at about $4,135,000. Tranquility Partners LLC grew its stake in shares of New Mountain Finance by 182.4% during the first quarter. Tranquility Partners LLC now owns 283,320 shares of the company’s stock valued at $3,590,000 after buying an additional 182,990 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of New Mountain Finance by 11.1% during the fourth quarter. Van ECK Associates Corp now owns 1,562,437 shares of the company’s stock valued at $19,875,000 after buying an additional 156,652 shares during the last quarter. 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.