New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Purchases 72,280 Shares

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky purchased 72,280 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. This trade represents a 1.72 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

New Mountain Finance Trading Up 0.6 %

New Mountain Finance stock opened at $11.18 on Friday. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.11. 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 has a market cap of $1.21 billion, a P/E ratio of 10.65 and a beta of 1.15. The company’s fifty day simple moving average is $11.55 and its 200-day simple moving average is $11.98.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $95.33 million for the quarter, compared to analysts’ expectations of $94.10 million. During the same period last year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The firm 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 represents a $1.32 annualized dividend and a yield of 11.81%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s payout ratio is currently 121.91%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NMFC. Wealth Enhancement Advisory Services LLC raised its stake in shares of New Mountain Finance by 38.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,590 shares of the company’s stock valued at $264,000 after acquiring an additional 5,950 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in New Mountain Finance by 16.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock valued at $3,809,000 after purchasing an additional 44,114 shares during the last quarter. GYL Financial Synergies LLC grew its holdings in New Mountain Finance by 18.5% during the second quarter. GYL Financial Synergies LLC now owns 18,290 shares of the company’s stock valued at $224,000 after purchasing an additional 2,860 shares during the last quarter. Tranquility Partners LLC lifted its stake in shares of New Mountain Finance by 37.2% in the second quarter. Tranquility Partners LLC now owns 388,753 shares of the company’s stock worth $4,763,000 after buying an additional 105,433 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of New Mountain Finance by 8.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 129,933 shares of the company’s stock worth $1,590,000 after buying an additional 10,207 shares during the last quarter. Institutional investors and hedge funds 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.