New Mountain Finance Co. (NASDAQ:NMFC) Director Acquires $1,170,000.00 in Stock

New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) Director Steven B. Klinsky bought 100,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $11.70 per share, for a total transaction of $1,170,000.00. Following the completion of the acquisition, the director now owns 7,420,681 shares in the company, valued at $86,821,967.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

New Mountain Finance Stock Up 1.4 %

NASDAQ:NMFC opened at $11.76 on Friday. New Mountain Finance Co. has a fifty-two week low of $11.09 and a fifty-two week high of $14.03. The stock has a market capitalization of $1.19 billion, a P/E ratio of 16.33 and a beta of 1.14. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.94 and a current ratio of 2.94. The company’s 50-day simple moving average is $12.72 and its 200-day simple moving average is $12.42.

New Mountain Finance (NASDAQ:NMFC – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. New Mountain Finance had a net margin of 25.38% and a return on equity of 9.68%. The business had revenue of $73.90 million for the quarter, compared to analysts’ expectations of $83.42 million. During the same period last year, the business earned $0.31 EPS. On average, equities analysts anticipate that New Mountain Finance Co. will post 1.47 earnings per share for the current fiscal year.

New Mountain Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 10.88%. The ex-dividend date is Thursday, March 16th. New Mountain Finance’s dividend payout ratio is currently 177.78%.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their target price on shares of New Mountain Finance from $12.50 to $13.00 in a report on Wednesday, March 1st.

Institutional Trading of New Mountain Finance

A number of institutional investors have recently modified their holdings of NMFC. Lazard Asset Management LLC purchased a new position in shares of New Mountain Finance in the 1st quarter valued at approximately $29,000. Belpointe Asset Management LLC purchased a new position in shares of New Mountain Finance in the 4th quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. raised its position in shares of New Mountain Finance by 114.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,317 shares of the company’s stock valued at $27,000 after purchasing an additional 1,239 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of New Mountain Finance by 74.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,639 shares of the company’s stock valued at $30,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of New Mountain Finance in the 2nd quarter valued at approximately $49,000. 30.98% of the stock is currently owned by institutional investors.

About New Mountain Finance

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New Mountain Finance Corp. is a is an externally managed, closed-end, non-diversified management investment company, which engages in investments in the middle market. Its objective investment is to generate current income and capital appreciation through investments in debt securities and equity interests.