New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky bought 6,200 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $11.75 per share, with a total value of $72,850.00. Following the purchase, the director now directly owns 4,122,655 shares of the company's stock, valued at $48,441,196.25. The trade was a 0.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
New Mountain Finance Trading Down 0.9 %
Shares of NMFC stock opened at $11.75 on Friday. The company has a market cap of $1.27 billion, a P/E ratio of 11.19 and a beta of 1.15. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.23. The stock has a 50 day simple moving average of $11.58 and a two-hundred day simple moving average of $12.05. 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 earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The company had revenue of $95.33 million for 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 revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. Research analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Increases Dividend
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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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.23%. The ex-dividend date is Tuesday, December 17th. This is a boost from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's dividend payout ratio is 121.91%.
Institutional Trading of New Mountain Finance
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of New Mountain Finance in the 3rd quarter worth $26,000. Quarry LP raised its holdings in New Mountain Finance by 68.3% during the second 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 position in shares of New Mountain Finance in the second quarter valued at $98,000. Quantbot Technologies LP acquired a new position in shares of New Mountain Finance during the third quarter valued at about $129,000. Finally, Centiva Capital LP bought a new stake in shares of New Mountain Finance during the third quarter worth about $130,000. 32.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company decreased their price target on 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.
View Our Latest Stock Analysis on New Mountain Finance
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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