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

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky purchased 34,867 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased 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 owns 4,056,324 shares of the company’s stock, valued at $46,688,289.24. The trade was a 0.87 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

New Mountain Finance Trading Up 2.0 %

NMFC traded up $0.23 during trading on Friday, reaching $11.76. The company had a trading volume of 419,970 shares, compared to its average volume of 422,855. 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 business has a 50 day simple moving average of $11.62 and a 200-day simple moving average of $12.10. The stock has a market cap of $1.27 billion, a P/E ratio of 10.98 and a beta of 1.15. 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 quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $94.10 million. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that New Mountain Finance Co. will post 1.39 EPS for the current fiscal year.

New Mountain Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.33 dividend. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 11.22%. The ex-dividend date of this dividend is Tuesday, December 17th. New Mountain Finance’s dividend payout ratio is currently 121.91%.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in New Mountain Finance during the 3rd quarter worth $375,000. Stifel Financial Corp grew its holdings in shares of New Mountain Finance by 5.3% during the third quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock valued at $565,000 after buying an additional 2,389 shares during the last quarter. HighTower Advisors LLC raised its stake in New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after acquiring an additional 237,594 shares during the last quarter. Centiva Capital LP acquired a new stake in New Mountain Finance during the 3rd quarter worth about $130,000. Finally, Paloma Partners Management Co acquired a new position in shares of New Mountain Finance in the third quarter valued at about $351,000. Institutional investors own 32.08% of the company’s stock.

Wall Street Analyst Weigh In

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 for the company in a research report on Tuesday, October 29th.

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.