New Mountain Finance (NYSE:NMFC) CFO Shiraz Kajee acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was acquired at an average cost of $13.18 per share, for a total transaction of $13,180.00. Following the completion of the acquisition, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $65,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NYSE NMFC remained flat at $$13.35 during trading on Friday. The stock had a trading volume of 158,411 shares, compared to its average volume of 404,126. New Mountain Finance has a twelve month low of $12.05 and a twelve month high of $15.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.41 and a quick ratio of 3.41. The firm has a market capitalization of $1,013.73, a PE ratio of 10.35 and a beta of 0.54.
New Mountain Finance (NYSE:NMFC) last issued its quarterly earnings data on Wednesday, February 28th. The investment management company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. New Mountain Finance had a return on equity of 10.26% and a net margin of 55.29%. The business had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $48.94 million. analysts expect 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. Investors of record on Thursday, March 15th were paid a dividend of $0.34 per share. The ex-dividend date 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%.
A number of equities analysts recently commented on NMFC shares. Zacks Investment Research upgraded New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, March 21st. ValuEngine downgraded 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 target price on New Mountain Finance and gave the company a “hold” rating in a research report on Thursday, March 1st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in New Mountain Finance by 222.3% during the 4th quarter. IFP Advisors Inc now owns 10,315 shares of the investment management company’s stock worth $140,000 after purchasing an additional 7,115 shares in the last quarter. Kovack Advisors Inc. acquired a new position in New Mountain Finance during the 4th quarter worth $146,000. Alliancebernstein L.P. acquired a new position in shares of New Mountain Finance during the 2nd quarter worth about $160,000. OxFORD Asset Management LLP acquired a new position in shares of New Mountain Finance during the 3rd quarter worth about $161,000. Finally, Global X MANAGEMENT CO LLC boosted its position in shares of New Mountain Finance by 48.6% during the 3rd 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 in the last quarter. 39.97% of the stock is owned by hedge funds and other institutional investors.
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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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