New Mountain Finance (NYSE:NMFC) Director Steven B. Klinsky purchased 281,176 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $13.40 per share, for a total transaction of $3,767,758.40. Following the completion of the purchase, the director now owns 5,823,600 shares of the company’s stock, valued at approximately $78,036,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE NMFC opened at $13.35 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.41 and a current ratio of 3.41. The stock has a market capitalization of $1,013.73, a price-to-earnings ratio of 10.35 and a beta of 0.54. New Mountain Finance has a twelve month low of $12.05 and a twelve month high of $15.00.
New Mountain Finance (NYSE:NMFC) last announced its quarterly earnings data on Wednesday, February 28th. The investment management company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $53.30 million for the quarter, compared to analyst estimates of $48.94 million. New Mountain Finance had a return on equity of 10.26% and a net margin of 55.29%. research analysts forecast that New Mountain Finance will post 1.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.36 annualized dividend and a yield of 10.19%. New Mountain Finance’s payout ratio is 105.43%.
Several brokerages recently issued reports on NMFC. Zacks Investment Research downgraded New Mountain Finance from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded New Mountain Finance from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the company a “hold” rating in a research report on Thursday, March 1st.
A number of institutional investors and hedge funds have recently bought and sold shares of NMFC. IFP Advisors Inc lifted its holdings in New Mountain Finance by 222.3% in the 4th quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock worth $140,000 after buying an additional 7,115 shares during the period. Kovack Advisors Inc. purchased a new stake in New Mountain Finance in the 4th quarter worth approximately $146,000. Alliancebernstein L.P. purchased a new position in shares of New Mountain Finance in the 2nd quarter valued at approximately $160,000. OxFORD Asset Management LLP purchased a new position in shares of New Mountain Finance in the 3rd quarter valued at approximately $161,000. Finally, Global X MANAGEMENT CO LLC lifted its stake in shares of New Mountain Finance by 48.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,461 shares of the investment management company’s stock valued at $192,000 after purchasing an additional 4,404 shares during the period. Institutional investors and hedge funds own 39.97% of the company’s stock.
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About New Mountain Finance
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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