New Mountain Finance Co. (NASDAQ:NMFC) Director Steven B. Klinsky Purchases 72,280 Shares

New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky purchased 72,280 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the completion of the acquisition, the director now owns 4,285,505 shares of the company's stock, valued at approximately $48,340,496.40. This represents a 1.72 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

New Mountain Finance Price Performance

Shares of NMFC traded up $0.07 during trading hours on Thursday, reaching $11.18. 691,824 shares of the company's stock traded hands, compared to its average volume of 427,506. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The firm's 50 day simple moving average is $11.55 and its 200-day simple moving average is $11.98. The stock has a market cap of $1.21 billion, a PE ratio of 10.65 and a beta of 1.15. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.11.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The company had revenue of $95.33 million during the quarter, compared to the consensus estimate of $94.10 million. During the same period in the previous year, the company earned $0.40 EPS. New Mountain Finance's quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts expect that New Mountain Finance Co. will post 1.39 EPS for the current year.

New Mountain Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.33 per share. This is a boost from New Mountain Finance's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 11.81%. The ex-dividend date is Tuesday, December 17th. New Mountain Finance's dividend payout ratio (DPR) is presently 121.91%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price target on shares of New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th.

Institutional Investors Weigh In On New Mountain Finance

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new stake in New Mountain Finance during the 3rd quarter valued at about $2,608,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of New Mountain Finance during the third quarter valued at approximately $168,000. Jane Street Group LLC bought a new position in shares of New Mountain Finance in the third quarter worth approximately $375,000. Stifel Financial Corp increased its stake in shares of New Mountain Finance by 5.3% in the third quarter. Stifel Financial Corp now owns 47,138 shares of the company's stock worth $565,000 after buying an additional 2,389 shares during the period. Finally, HighTower Advisors LLC raised its holdings in New Mountain Finance by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company's stock valued at $40,438,000 after buying an additional 237,594 shares during the last quarter. 32.08% of the stock is currently owned by institutional investors.

New Mountain Finance Company Profile

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.