New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 987,800 shares, a decrease of 28.9% from the February 13th total of 1,390,000 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 477,400 shares, the days-to-cover ratio is presently 2.1 days.
Insider Buying and Selling at New Mountain Finance
In other New Mountain Finance news, Director David Ogens acquired 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now owns 179,020 shares of the company's stock, valued at $2,047,988.80. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 10.22% of the company's stock.
Institutional Trading of New Mountain Finance
Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of New Mountain Finance during the third quarter worth approximately $26,000. Fox Run Management L.L.C. purchased a new position in New Mountain Finance in the 4th quarter worth $114,000. MQS Management LLC bought a new stake in New Mountain Finance in the fourth quarter worth $123,000. Larson Financial Group LLC boosted its position in New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company's stock valued at $123,000 after buying an additional 10,727 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of New Mountain Finance during the third quarter valued at about $129,000. Institutional investors own 32.08% of the company's stock.
New Mountain Finance Price Performance
NMFC stock traded down $0.02 during midday trading on Thursday, reaching $11.08. The company had a trading volume of 400,456 shares, compared to its average volume of 429,122. The firm has a 50-day moving average price of $11.48 and a 200-day moving average price of $11.58. The company has a market capitalization of $1.19 billion, a P/E ratio of 10.55 and a beta of 1.16. New Mountain Finance has a 1 year low of $10.62 and a 1 year high of $12.81. 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 (NASDAQ:NMFC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 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 $92.89 million during the quarter, compared to analysts' expectations of $93.23 million. On average, research analysts anticipate that New Mountain Finance will post 1.39 earnings per share for the current fiscal year.
New Mountain Finance Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 11.55%. New Mountain Finance's dividend payout ratio (DPR) is presently 123.08%.
About New Mountain Finance
(
Get Free Report)
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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