New Mountain Finance Co. (NASDAQ:NMFC) Director Acquires $28,176.00 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 2,400 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $11.74 per share, for a total transaction of $28,176.00. Following the acquisition, the director now owns 4,118,522 shares of the company’s stock, valued at approximately $48,351,448.28. This trade represents a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

New Mountain Finance Stock Up 0.8 %

Shares of NASDAQ NMFC opened at $11.94 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 11.37 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 firm’s fifty day moving average is $11.59 and its 200 day moving average is $12.06. New Mountain Finance Co. has a 52 week low of $10.61 and a 52 week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last posted its 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). The firm had revenue of $95.33 million for 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 business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.33 dividend. 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 11.06%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 121.91%.

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their price target on 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.

Hedge Funds Weigh In On New Mountain Finance

Several hedge funds have recently made changes to their positions in NMFC. BNP Paribas Financial Markets bought a new stake in New Mountain Finance in the third quarter valued at $26,000. Quarry LP boosted 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 purchasing an additional 1,342 shares in the last quarter. Clearstead Trust LLC purchased a new position in shares of New Mountain Finance during the second quarter valued at about $98,000. Lazard Asset Management LLC bought a new position in New Mountain Finance in the first quarter worth about $126,000. Finally, Quantbot Technologies LP purchased a new stake in New Mountain Finance in the third quarter worth about $129,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

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.