Steven Klinsky Purchases 106,691 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky acquired 106,691 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the completion of the acquisition, the director directly owned 4,370,857 shares of the company’s stock, valued at approximately $42,746,981.46. This trade represents a 2.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

New Mountain Finance Stock Up 0.7%

New Mountain Finance stock opened at $9.91 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 13.04 and a beta of 0.80. New Mountain Finance Corporation has a 52 week low of $8.84 and a 52 week high of $12.09. The business’s 50-day moving average price is $10.42 and its 200 day moving average price is $10.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.35.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. New Mountain Finance had a return on equity of 10.43% and a net margin of 23.27%.During the same period last year, the company earned $0.36 earnings per share. As a group, sell-side analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Tuesday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is 168.42%.

Institutional Investors Weigh In On New Mountain Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its position in New Mountain Finance by 7.9% in the first quarter. Oppenheimer & Co. Inc. now owns 33,624 shares of the company’s stock valued at $371,000 after purchasing an additional 2,450 shares during the period. ProShare Advisors LLC raised its position in New Mountain Finance by 17.2% in the fourth quarter. ProShare Advisors LLC now owns 18,161 shares of the company’s stock valued at $204,000 after purchasing an additional 2,664 shares during the period. Squarepoint Ops LLC raised its position in New Mountain Finance by 179.7% in the fourth quarter. Squarepoint Ops LLC now owns 40,292 shares of the company’s stock valued at $454,000 after purchasing an additional 25,886 shares during the period. Invesco Ltd. raised its position in New Mountain Finance by 10.7% in the first quarter. Invesco Ltd. now owns 1,091,476 shares of the company’s stock valued at $12,039,000 after purchasing an additional 105,559 shares during the period. Finally, Jane Street Group LLC raised its position in New Mountain Finance by 232.7% in the fourth quarter. Jane Street Group LLC now owns 104,285 shares of the company’s stock valued at $1,174,000 after purchasing an additional 72,944 shares during the period. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NMFC. Bank of America reaffirmed an “underperform” rating and set a $10.00 target price (down from $11.75) on shares of New Mountain Finance in a report on Monday, September 15th. Oppenheimer set a $11.00 price objective on New Mountain Finance and gave the company a “market perform” rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $10.60.

New Mountain Finance Company Profile

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.