Insider Buying: New Mountain Finance Corp. (NYSE:NMFC) CAO Buys 9,350 Shares of Stock

New Mountain Finance Corp. (NYSE:NMFC) CAO Adam Weinstein purchased 9,350 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $13.34 per share, for a total transaction of $124,729.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NMFC stock traded up $0.09 during mid-day trading on Tuesday, hitting $13.46. The stock had a trading volume of 407,747 shares, compared to its average volume of 415,161. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.47. New Mountain Finance Corp. has a 1-year low of $12.06 and a 1-year high of $14.38. The business’s fifty day moving average price is $13.76. The stock has a market cap of $1.17 billion, a PE ratio of 9.75 and a beta of 0.55.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.10%. The ex-dividend date is Thursday, September 12th. New Mountain Finance’s payout ratio is currently 98.55%.



A number of hedge funds have recently modified their holdings of the business. Financial Counselors Inc. increased its position in New Mountain Finance by 6.7% in the 1st quarter. Financial Counselors Inc. now owns 12,871 shares of the investment management company’s stock worth $175,000 after purchasing an additional 806 shares during the last quarter. Essex Financial Services Inc. increased its position in New Mountain Finance by 9.4% in the 1st quarter. Essex Financial Services Inc. now owns 13,129 shares of the investment management company’s stock worth $178,000 after purchasing an additional 1,129 shares during the last quarter. Wambolt & Associates LLC increased its position in New Mountain Finance by 8.2% in the 2nd quarter. Wambolt & Associates LLC now owns 16,777 shares of the investment management company’s stock worth $234,000 after purchasing an additional 1,267 shares during the last quarter. Monument Capital Management increased its position in New Mountain Finance by 1.6% in the 2nd quarter. Monument Capital Management now owns 90,604 shares of the investment management company’s stock worth $1,260,000 after purchasing an additional 1,407 shares during the last quarter. Finally, Moloney Securities Asset Management LLC increased its position in New Mountain Finance by 18.4% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 12,445 shares of the investment management company’s stock worth $174,000 after purchasing an additional 1,937 shares during the last quarter. 33.33% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research lowered New Mountain Finance from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th.

About New Mountain Finance

New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.

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