New Mountain Finance (NYSE:NMFC) CEO Robert Hamwee acquired 20,000 shares of New Mountain Finance stock in a transaction dated Wednesday, March 14th. The shares were bought at an average price of $13.20 per share, for a total transaction of $264,000.00. Following the transaction, the chief executive officer now owns 306,284 shares of the company’s stock, valued at $4,042,948.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of NMFC opened at $13.35 on Friday. The firm has a market cap of $1,013.73, a PE ratio of 10.35 and a beta of 0.54. New Mountain Finance has a 12-month low of $12.05 and a 12-month high of $15.00. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.84.
New Mountain Finance (NYSE:NMFC) last issued its earnings results on Wednesday, February 28th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $53.30 million during the quarter, compared to analyst estimates of $48.94 million. New Mountain Finance had a net margin of 55.29% and a return on equity of 10.26%. analysts predict that New Mountain Finance will post 1.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date of this dividend was Wednesday, March 14th. New Mountain Finance’s dividend payout ratio is currently 105.43%.
Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of New Mountain Finance by 222.3% during the fourth quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock valued at $140,000 after purchasing an additional 7,115 shares during the period. Kovack Advisors Inc. purchased a new stake in New Mountain Finance in the fourth quarter worth about $146,000. OxFORD Asset Management LLP purchased a new stake in New Mountain Finance in the third quarter worth about $161,000. Global X MANAGEMENT CO LLC lifted its stake in New Mountain Finance by 48.6% in the third quarter. Global X MANAGEMENT CO LLC now owns 13,461 shares of the investment management company’s stock worth $192,000 after acquiring an additional 4,404 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in New Mountain Finance in the third quarter worth about $201,000. 39.97% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Thursday, March 22nd. ValuEngine cut shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the company a “hold” rating in a research report on Thursday, March 1st.
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New Mountain Finance Company Profile
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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