Steven B. Klinsky Buys 16,624 Shares of New Mountain Finance Co. (NASDAQ:NMFC) Stock

New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky acquired 16,624 shares of New Mountain Finance stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $11.74 per share, with a total value of $195,165.76. Following the completion of the transaction, the director now owns 4,133,737 shares of the company’s stock, valued at approximately $48,530,072.38. This trade represents a 0.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

New Mountain Finance Price Performance

New Mountain Finance stock opened at $11.89 on Wednesday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.31 and a beta of 1.15. The stock’s 50 day moving average is $11.58 and its 200-day moving average is $12.03. 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 $13.23.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results 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). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The firm had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same period in the prior year, the business posted $0.40 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.10%. 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. New Mountain Finance’s dividend payout ratio is presently 121.90%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

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

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.