New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline Sells 1,238 Shares

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline sold 1,238 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $12.55, for a total transaction of $15,536.90. Following the completion of the sale, the chief executive officer now owns 254,610 shares of the company’s stock, valued at approximately $3,195,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

New Mountain Finance Stock Up 1.1 %

Shares of NMFC stock opened at $12.72 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of 10.18 and a beta of 1.13. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.92 and a quick ratio of 2.92. The stock has a fifty day moving average price of $12.60 and a 200 day moving average price of $12.72. New Mountain Finance Co. has a one year low of $11.38 and a one year high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last issued its earnings results on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.03 million. During the same period in the previous year, the business earned $0.35 EPS. Analysts predict that New Mountain Finance Co. will post 1.53 earnings per share for the current year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 11.32%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio is 102.40%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a report on Monday, January 29th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its position in New Mountain Finance by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 119,726 shares of the company’s stock worth $1,517,000 after purchasing an additional 2,032 shares in the last quarter. Verity & Verity LLC acquired a new position in New Mountain Finance in the first quarter worth about $1,048,000. Oak Family Advisors LLC raised its position in New Mountain Finance by 175.8% in the first quarter. Oak Family Advisors LLC now owns 149,364 shares of the company’s stock worth $1,892,000 after purchasing an additional 95,208 shares in the last quarter. Spire Wealth Management raised its position in New Mountain Finance by 9.7% in the first quarter. Spire Wealth Management now owns 36,425 shares of the company’s stock worth $462,000 after purchasing an additional 3,212 shares in the last quarter. Finally, PFG Investments LLC grew its stake in New Mountain Finance by 125.1% during the first quarter. PFG Investments LLC now owns 38,911 shares of the company’s stock worth $493,000 after buying an additional 21,622 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

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.