New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky acquired 150,609 shares of the stock in a transaction on Wednesday, November 6th. The stock was acquired at an average cost of $10.87 per share, for a total transaction of $1,637,119.83. Following the acquisition, the director now directly owns 3,632,326 shares in the company, valued at $39,483,383.62. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
New Mountain Finance Price Performance
Shares of NASDAQ:NMFC traded up $0.23 on Friday, reaching $11.32. 856,135 shares of the company were exchanged, compared to its average volume of 611,304. The company has a 50-day moving average of $11.75 and a 200-day moving average of $12.17. 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 has a market cap of $1.22 billion, a price-to-earnings ratio of 10.78 and a beta of 1.15. New Mountain Finance Co. has a 1-year low of $10.61 and a 1-year high of $13.23.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last issued 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 company had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company's quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 17th. This is a boost from New Mountain Finance's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 11.66%. New Mountain Finance's payout ratio is currently 121.91%.
Institutional Trading of New Mountain Finance
A number of institutional investors have recently bought and sold shares of NMFC. Van ECK Associates Corp boosted its position in shares of New Mountain Finance by 21.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,080,602 shares of the company's stock worth $25,467,000 after buying an additional 369,695 shares in the last quarter. International Assets Investment Management LLC raised its position in New Mountain Finance by 1,017.3% during the third quarter. International Assets Investment Management LLC now owns 374,487 shares of the company's stock worth $4,486,000 after acquiring an additional 340,969 shares during the last quarter. Tranquility Partners LLC lifted its holdings in shares of New Mountain Finance by 182.4% in the first quarter. Tranquility Partners LLC now owns 283,320 shares of the company's stock valued at $3,590,000 after purchasing an additional 182,990 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of New Mountain Finance by 78.5% in the second quarter. Acadian Asset Management LLC now owns 314,058 shares of the company's stock valued at $3,839,000 after purchasing an additional 138,157 shares during the last quarter. Finally, First National Trust Co increased its stake in shares of New Mountain Finance by 101.1% during the 3rd quarter. First National Trust Co now owns 160,005 shares of the company's stock worth $1,917,000 after purchasing an additional 80,451 shares in the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Wells Fargo & Company decreased their price target on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th.
Check Out Our Latest Report on NMFC
New Mountain Finance Company Profile
(
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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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