Wilmington Savings Fund Society FSB Makes New $168,000 Investment in New Mountain Finance Co. (NASDAQ:NMFC)

Wilmington Savings Fund Society FSB purchased a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,000 shares of the company’s stock, valued at approximately $168,000.

A number of other large investors have also recently made changes to their positions in NMFC. BNP Paribas Financial Markets purchased a new stake in New Mountain Finance in the third quarter worth approximately $26,000. Quarry LP boosted its stake 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 worth $40,000 after buying an additional 1,342 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of New Mountain Finance in the second quarter worth $98,000. Quantbot Technologies LP purchased a new stake in New Mountain Finance during the third quarter valued at $129,000. Finally, Centiva Capital LP bought a new position in New Mountain Finance in the third quarter valued at about $130,000. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Stock Down 1.5 %

Shares of NMFC stock opened at $11.11 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.18. The stock has a market cap of $1.20 billion, a P/E ratio of 10.58 and a beta of 1.15. The company has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $11.99.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 EPS 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 analysts’ expectations 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 revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, research analysts expect that New Mountain Finance Co. will post 1.39 earnings per share for the current year.

New Mountain Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.32 annualized dividend and a dividend yield of 11.88%. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s dividend payout ratio (DPR) is 121.91%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their price target on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

Insider Activity

In other news, CEO John Kline acquired 41,550 shares of New Mountain Finance stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the purchase, the chief executive officer now directly owns 351,783 shares in the company, valued at approximately $3,841,470.36. This trade represents a 13.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven B. Klinsky bought 150,609 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average price of $10.87 per share, for a total transaction of $1,637,119.83. Following the purchase, the director now owns 3,632,326 shares in the company, valued at $39,483,383.62. This represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 252,250 shares of company stock valued at $2,788,357 in the last ninety days. Corporate insiders own 10.22% of the company’s stock.

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.