New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky bought 72,280 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $11.28 per share, with a total value of $815,318.40. Following the purchase, the director now owns 4,285,505 shares in the company, valued at $48,340,496.40. This trade represents a 1.72 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
New Mountain Finance Price Performance
Shares of New Mountain Finance stock opened at $11.18 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.21 billion, a PE ratio of 10.65 and a beta of 1.15. The firm has a fifty day moving average price of $11.55 and a two-hundred day moving average price of $11.98. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.11.
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 for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The company had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same quarter in the previous year, the business posted $0.40 EPS. The firm's quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.
New Mountain Finance Increases Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 11.81%. The ex-dividend date 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 (DPR) is presently 121.91%.
Wall Street Analyst Weigh In
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 report on Tuesday, October 29th.
Read Our Latest Stock Analysis on New Mountain Finance
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in New Mountain Finance in the 3rd quarter valued at $26,000. Quarry LP boosted its position in shares of New Mountain Finance by 68.3% during the 2nd quarter. Quarry LP now owns 3,307 shares of the company's stock valued at $40,000 after acquiring an additional 1,342 shares in the last quarter. Clearstead Trust LLC bought a new stake in New Mountain Finance in the second quarter valued at about $98,000. Quantbot Technologies LP acquired a new position in New Mountain Finance in the third quarter worth about $129,000. Finally, Centiva Capital LP bought a new position in New Mountain Finance during the third quarter worth about $130,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.
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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