Insider Buying: New Mountain Finance Co. (NASDAQ:NMFC) Director Acquires 2,400 Shares of Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky bought 2,400 shares of the stock in a transaction on Tuesday, November 26th. The stock was purchased at an average cost of $11.74 per share, for a total transaction of $28,176.00. Following the acquisition, the director now directly owns 4,118,522 shares of the company’s stock, valued at $48,351,448.28. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

New Mountain Finance Stock Up 0.8 %

NMFC traded up $0.10 during trading on Friday, hitting $11.94. The company had a trading volume of 143,076 shares, compared to its average volume of 420,615. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.29 billion, a PE ratio of 11.26 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 business has a 50-day moving average of $11.59 and a 200-day moving average of $12.07.

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 the consensus estimate of $0.35 by ($0.01). The company 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 business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.33 dividend. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.32 annualized dividend and a dividend yield of 11.06%. New Mountain Finance’s payout ratio is presently 121.91%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective on 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.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance in the third quarter valued at approximately $26,000. Quarry LP boosted its stake in New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company’s stock worth $40,000 after purchasing an additional 1,342 shares during the period. Clearstead Trust LLC bought a new position in New Mountain Finance in the second quarter valued at $98,000. Lazard Asset Management LLC bought a new stake in New Mountain Finance during the first quarter worth $126,000. Finally, Quantbot Technologies LP acquired a new position in shares of New Mountain Finance during the 3rd quarter worth approximately $129,000. 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.