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

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 72,280 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $11.28 per share, for a total transaction of $815,318.40. Following the transaction, the director now owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. The trade was a 1.72 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

New Mountain Finance Stock Up 0.8 %

NMFC opened at $11.27 on Friday. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.10. The business has a 50-day moving average of $11.54 and a two-hundred day moving average of $11.97. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.73 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last released its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $95.33 million during the quarter, compared to analysts’ expectations of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. New Mountain Finance’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, research analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.33 dividend. 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 dividend yield of 11.71%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s payout ratio is currently 121.90%.

Institutional Trading of New Mountain Finance

A number of institutional investors and hedge funds have recently bought and sold shares of NMFC. Cerity Partners LLC lifted its position in New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after buying an additional 100,315 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after acquiring an additional 237,594 shares during the period. LSV Asset Management lifted its holdings in shares of New Mountain Finance by 0.7% during the 2nd quarter. LSV Asset Management now owns 2,548,475 shares of the company’s stock valued at $31,193,000 after acquiring an additional 17,300 shares in the last quarter. Van ECK Associates Corp boosted its position in New Mountain Finance by 8.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after purchasing an additional 168,719 shares during the period. Finally, Millennium Management LLC increased its holdings in New Mountain Finance by 5.4% in the 2nd quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock valued at $5,591,000 after purchasing an additional 23,406 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

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 on the stock in a report on Tuesday, October 29th.

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.