Insider Buying: New Mountain Finance Co. (NASDAQ:NMFC) Director Buys $28,176.00 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 2,400 shares of the stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $11.74 per share, with a total value of $28,176.00. Following the transaction, the director now directly owns 4,118,522 shares of the company’s stock, valued at approximately $48,351,448.28. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

New Mountain Finance Stock Performance

New Mountain Finance stock opened at $11.94 on Monday. 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 market cap of $1.29 billion, a P/E ratio of 11.37 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 firm has a 50-day moving average of $11.59 and a 200-day moving average of $12.06.

New Mountain Finance (NASDAQ:NMFC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. New Mountain Finance’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. Sell-side analysts expect that New Mountain Finance Co. will post 1.39 EPS 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. Shareholders of record on Tuesday, December 17th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.06%. New Mountain Finance’s dividend payout ratio is 121.90%.

Analyst Upgrades and Downgrades

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 on the stock in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in New Mountain Finance in the third quarter worth about $2,608,000. Wilmington Savings Fund Society FSB bought a new position in shares of New Mountain Finance in the 3rd quarter worth approximately $168,000. Jane Street Group LLC purchased a new position in shares of New Mountain Finance in the 3rd quarter valued at approximately $375,000. Stifel Financial Corp boosted its position in shares of New Mountain Finance by 5.3% during the third quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock valued at $565,000 after purchasing an additional 2,389 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock worth $40,438,000 after buying an additional 237,594 shares during the period. 32.08% of the stock is owned by hedge funds and other institutional investors.

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.