Insider Selling: New Mountain Finance Co. (NASDAQ:NMFC) CEO Sells $15,536.90 in Stock

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline sold 1,238 shares of New Mountain Finance stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $12.55, for a total transaction of $15,536.90. Following the completion of the transaction, the chief executive officer now directly owns 254,610 shares in the company, valued at $3,195,355.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

New Mountain Finance Stock Up 1.1 %

NMFC opened at $12.72 on Friday. The business has a 50 day moving average price of $12.60 and a two-hundred day moving average price of $12.72. New Mountain Finance Co. has a 52 week low of $11.38 and a 52 week high of $13.23. The company has a market cap of $1.35 billion, a PE ratio of 10.18 and a beta of 1.13. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.34.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings results on Monday, February 26th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.03 million. New Mountain Finance had a return on equity of 11.93% and a net margin of 36.13%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, research analysts anticipate that New Mountain Finance Co. will post 1.53 EPS for the current year.

New Mountain Finance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.36 dividend. This is an increase from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.44 annualized dividend and a dividend yield of 11.32%. New Mountain Finance’s payout ratio is presently 102.40%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC acquired a new position in New Mountain Finance during the 4th quarter worth approximately $35,000. Barclays PLC purchased a new stake in shares of New Mountain Finance in the third quarter valued at approximately $63,000. Beaumont Financial Advisors LLC acquired a new position in New Mountain Finance during the fourth quarter worth $130,000. Nisa Investment Advisors LLC acquired a new position in New Mountain Finance during the third quarter worth $133,000. Finally, DAVENPORT & Co LLC purchased a new position in New Mountain Finance in the third quarter worth $177,000. 32.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their price objective on shares of New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th.

About New Mountain Finance

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.