New Mountain Finance (NASDAQ:NMFC) Director Steven Klinsky Acquires 250,495 Shares

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 250,495 shares of the stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $7.94 per share, for a total transaction of $1,988,930.30. Following the acquisition, the director directly owned 4,754,338 shares of the company’s stock, valued at $37,749,443.72. The trade was a 5.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

New Mountain Finance Trading Down 1.1%

NMFC traded down $0.09 during trading on Friday, hitting $8.01. The company’s stock had a trading volume of 210,909 shares, compared to its average volume of 1,158,331. The stock has a market cap of $826.31 million, a PE ratio of 53.40 and a beta of 0.59. The firm’s 50 day moving average price is $8.64 and its 200-day moving average price is $9.34. New Mountain Finance Corporation has a twelve month low of $7.52 and a twelve month high of $11.46. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16.

New Mountain Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, March 17th. New Mountain Finance’s dividend payout ratio (DPR) is currently 853.33%.

Institutional Investors Weigh In On New Mountain Finance

Several hedge funds have recently modified their holdings of NMFC. MTM Investment Management LLC acquired a new position in shares of New Mountain Finance in the 2nd quarter worth approximately $38,000. Huntington National Bank raised its position in New Mountain Finance by 311.8% in the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after purchasing an additional 3,433 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in New Mountain Finance in the third quarter worth $47,000. US Bancorp DE acquired a new stake in shares of New Mountain Finance in the third quarter valued at $48,000. Finally, Advisory Services Network LLC bought a new position in shares of New Mountain Finance in the third quarter valued at about $65,000. 32.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

NMFC has been the subject of a number of analyst reports. Zacks Research downgraded New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their price objective on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Finally, B. Riley Financial lowered their target price on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, New Mountain Finance currently has a consensus rating of “Reduce” and a consensus target price of $9.25.

New Mountain Finance Company Profile

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.