New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Buys 16,624 Shares of Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 16,624 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $11.74 per share, for a total transaction of $195,165.76. Following the acquisition, the director now directly owns 4,133,737 shares in the company, valued at $48,530,072.38. This trade represents a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock opened at $11.88 on Tuesday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.31 and a beta of 1.15. New Mountain Finance Co. has a 1-year low of $10.61 and a 1-year high of $13.23. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm has a fifty day simple moving average of $11.58 and a 200-day simple moving average of $12.03.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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 business had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 11.11%. The ex-dividend date is Tuesday, December 17th. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their target price 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.

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently bought and sold shares of NMFC. Wealth Enhancement Advisory Services LLC grew its position in New Mountain Finance by 38.0% in the second 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 during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of New Mountain Finance by 16.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company’s stock valued at $3,809,000 after acquiring an additional 44,114 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in New Mountain Finance by 33.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 125,459 shares of the company’s stock valued at $1,536,000 after buying an additional 31,491 shares during the period. Stableford Capital II LLC boosted its stake in New Mountain Finance by 99.0% during the 2nd quarter. Stableford Capital II LLC now owns 79,339 shares of the company’s stock worth $986,000 after acquiring an additional 39,466 shares during the last quarter. Finally, Oak Family Advisors LLC boosted its position in shares of New Mountain Finance by 0.7% during the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

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.