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

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 34,867 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $11.51 per share, for a total transaction of $401,319.17. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

New Mountain Finance Stock Performance

NASDAQ:NMFC opened at $11.76 on Friday. 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 company has a 50-day moving average of $11.61 and a 200-day moving average of $12.09. New Mountain Finance Co. has a twelve month low of $10.61 and a twelve month high of $13.23. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 11.20 and a beta of 1.15.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $95.33 million during 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%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share 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. 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 11.22%. This is an increase 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 dividend payout ratio is currently 121.91%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased 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 research report on Tuesday, October 29th.

Hedge Funds Weigh In On New Mountain Finance

A number of institutional investors have recently bought and sold shares of the stock. Oak Family Advisors LLC boosted its holdings in shares of New Mountain Finance by 0.7% in the second quarter. Oak Family Advisors LLC now owns 150,384 shares of the company’s stock worth $1,841,000 after buying an additional 1,020 shares during the period. Quarry LP lifted its position in shares of New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock valued at $40,000 after acquiring an additional 1,342 shares in the last quarter. ProShare Advisors LLC boosted its stake in New Mountain Finance by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 13,035 shares of the company’s stock worth $165,000 after purchasing an additional 1,800 shares during the period. BNP Paribas Financial Markets purchased a new position in New Mountain Finance during the 3rd quarter worth approximately $26,000. Finally, Lindbrook Capital LLC raised its stake in New Mountain Finance by 0.7% during the 3rd quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock valued at $3,898,000 after purchasing an additional 2,389 shares during the period. Hedge funds and other 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.