Insider Buying: New Mountain Finance Co. (NASDAQ:NMFC) Director Buys 150,609 Shares of Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky purchased 150,609 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the purchase, the director now owns 3,632,326 shares in the company, valued at $39,483,383.62. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

New Mountain Finance Stock Up 2.1 %

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

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, research 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 paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.66%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s payout ratio is 121.91%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new position in shares of New Mountain Finance during the 1st quarter worth approximately $40,000. Quarry LP grew its holdings in New Mountain Finance by 68.3% during the second quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after acquiring an additional 1,342 shares during the period. EntryPoint Capital LLC purchased a new position in New Mountain Finance in the first quarter worth $52,000. Clearstead Trust LLC acquired a new stake in New Mountain Finance in the second quarter valued at $98,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of New Mountain Finance during the 1st quarter worth $126,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced 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.

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.