New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) CEO John Kline purchased 41,550 shares of New Mountain Finance stock in a transaction dated Wednesday, November 6th. The stock was bought at an average cost of $10.92 per share, with a total value of $453,726.00. Following the completion of the transaction, the chief executive officer now owns 351,783 shares in the company, valued at approximately $3,841,470.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
New Mountain Finance Stock Up 2.1 %
NASDAQ NMFC traded up $0.23 on Friday, hitting $11.32. The stock had a trading volume of 856,135 shares, compared to its average volume of 611,304. The business's fifty day moving average price is $11.75 and its 200 day moving average price is $12.17. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 10.78 and a beta of 1.15. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. New Mountain Finance Co. has a 52-week low of $10.61 and a 52-week high of $13.23.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last announced 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 return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $95.33 million for the quarter, compared to analysts' expectations of $94.10 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
New Mountain Finance Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.33 dividend. This is a positive change from New Mountain Finance's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 11.66%. 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 lowered 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.
Check Out Our Latest Report on New Mountain Finance
Institutional Trading of New Mountain Finance
Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of New Mountain Finance by 16.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 311,201 shares of the company's stock worth $3,809,000 after buying an additional 44,114 shares during the last quarter. Van ECK Associates Corp increased its position in shares of New Mountain Finance by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company's stock valued at $25,980,000 after acquiring an additional 168,719 shares during the period. Condor Capital Management raised its stake in New Mountain Finance by 28.2% in the 2nd quarter. Condor Capital Management now owns 348,406 shares of the company's stock worth $4,264,000 after acquiring an additional 76,739 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in New Mountain Finance by 54.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 193,449 shares of the company's stock worth $2,318,000 after acquiring an additional 67,990 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in New Mountain Finance during the 1st quarter valued at about $126,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.
About New Mountain Finance
(
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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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