New Mountain Finance Co. (NASDAQ:NMFC) CEO Acquires $453,726.00 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline purchased 41,550 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the transaction, the chief executive officer now directly owns 351,783 shares in the company, valued at $3,841,470.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $11.32 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of 10.78 and a beta of 1.15. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $11.75 and its 200-day moving average price is $12.17. New Mountain Finance Co. has a twelve month low of $10.61 and a twelve month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last announced its earnings results 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 net margin of 30.28% and a return on equity of 11.25%. The business had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.33 dividend. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.91%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their target price on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

Institutional Investors Weigh In On New Mountain Finance

Large investors have recently added to or reduced their stakes in the company. Oak Family Advisors LLC boosted its position in New Mountain Finance by 0.7% during the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,020 shares during the period. Quarry LP lifted its stake in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after buying an additional 1,342 shares in the last quarter. ProShare Advisors LLC boosted its holdings in New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after buying an additional 1,800 shares during the period. Lindbrook Capital LLC grew its stake in New Mountain Finance by 0.7% in the 3rd quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock valued at $3,898,000 after buying an additional 2,389 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in New Mountain Finance by 10.9% during the 3rd quarter. Stephens Inc. AR now owns 25,500 shares of the company’s stock valued at $305,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors 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.