New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Acquires 34,867 Shares

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 34,867 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $11.51 per share, with a total value of $401,319.17. Following the completion of the purchase, the director now directly owns 4,056,324 shares in the company, valued at approximately $46,688,289.24. The trade was a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

New Mountain Finance Stock Up 2.0 %

NMFC stock opened at $11.76 on Monday. New Mountain Finance Co. has a one year low of $10.61 and a one year high of $13.23. The firm has a market cap of $1.27 billion, a PE ratio of 11.20 and a beta of 1.15. The firm’s 50 day moving average price is $11.61 and its 200-day moving average price is $12.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business 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 prior year, the firm earned $0.40 EPS. On average, equities research analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 17th. This is a boost 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 11.22%. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut 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 report on Tuesday, October 29th.

Hedge Funds Weigh In On New Mountain Finance

Large investors have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its stake in New Mountain Finance by 16.0% during the first quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after purchasing an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of New Mountain Finance by 27.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 101,576 shares of the company’s stock valued at $1,288,000 after buying an additional 22,075 shares during the period. EntryPoint Capital LLC acquired a new position in New Mountain Finance during the 1st quarter worth about $52,000. Advisors Asset Management Inc. boosted its holdings in New Mountain Finance by 3.0% during the 1st quarter. Advisors Asset Management Inc. now owns 314,702 shares of the company’s stock valued at $3,987,000 after acquiring an additional 9,286 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in New Mountain Finance during the 1st quarter valued at about $126,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

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.