New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Acquires 16,624 Shares

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 16,624 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $11.74 per share, with a total value of $195,165.76. Following the transaction, the director now directly owns 4,133,737 shares of the company’s stock, valued at approximately $48,530,072.38. This trade represents a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

New Mountain Finance Stock Performance

Shares of NASDAQ:NMFC traded up $0.08 during midday trading on Monday, reaching $11.88. 425,693 shares of the company traded hands, compared to its average volume of 420,684. The firm’s fifty day moving average price is $11.58 and its two-hundred day moving average price is $12.03. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.34 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. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly 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 firm had revenue of $95.33 million during the quarter, compared to analysts’ expectations of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s payout ratio is 121.90%.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC raised its stake in New Mountain Finance by 2.7% in the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after purchasing an additional 100,315 shares in the last quarter. HighTower Advisors LLC raised its position in shares of New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after buying an additional 237,594 shares in the last quarter. 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 worth $31,193,000 after acquiring an additional 17,300 shares during the last quarter. Van ECK Associates Corp grew its position in New Mountain Finance by 8.1% in the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after acquiring an additional 168,719 shares in the last quarter. Finally, Millennium Management LLC increased its stake in New Mountain Finance by 5.4% in the second quarter. Millennium Management LLC now owns 456,811 shares of the company’s stock valued at $5,591,000 after acquiring an additional 23,406 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price objective on shares of 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.

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.