New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) CEO John Kline purchased 41,550 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the purchase, the chief executive officer now owns 351,783 shares in the company, valued at $3,841,470.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
New Mountain Finance Trading Up 2.1 %
Shares of New Mountain Finance stock opened at $11.32 on Friday. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.23. The stock has a market cap of $1.22 billion, a PE ratio of 10.78 and a beta of 1.15. The firm has a 50-day moving average of $11.75 and a 200-day moving average of $12.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly 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). The business had revenue of $95.33 million during the quarter, compared to analyst estimates of $94.10 million. New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, sell-side analysts forecast that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Increases Dividend
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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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.66%. This is an increase from New Mountain Finance's previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 17th. New Mountain Finance's dividend payout ratio is presently 121.91%.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company lowered their target price on 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.
View Our Latest Stock Report on NMFC
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of NMFC. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of New Mountain Finance by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company's stock valued at $3,809,000 after purchasing an additional 44,114 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of New Mountain Finance by 8.1% in the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company's stock worth $25,980,000 after acquiring an additional 168,719 shares during the last quarter. Condor Capital Management boosted its stake in shares of New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company's stock valued at $4,264,000 after purchasing an additional 76,739 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of New Mountain Finance by 54.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company's stock valued at $2,318,000 after purchasing an additional 67,990 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in New Mountain Finance during the 1st quarter worth approximately $126,000. Institutional investors own 32.08% of the company's stock.
About New Mountain Finance
(
Get Free Report)
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.
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