New Mountain Finance (NASDAQ:NMFC) Director Steven Klinsky Acquires 186,905 Shares of Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky purchased 186,905 shares of the stock in a transaction on Wednesday, March 4th. The shares were acquired at an average cost of $8.17 per share, for a total transaction of $1,527,013.85. Following the transaction, the director owned 4,878,942 shares of the company’s stock, valued at approximately $39,860,956.14. The trade was a 3.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

New Mountain Finance Stock Performance

Shares of NMFC traded down $0.09 during mid-day trading on Friday, reaching $8.01. The company’s stock had a trading volume of 210,909 shares, compared to its average volume of 1,158,331. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. The stock has a market cap of $826.31 million, a P/E ratio of 53.40 and a beta of 0.59. New Mountain Finance Corporation has a 1-year low of $7.52 and a 1-year high of $11.46. The business has a 50-day simple moving average of $8.64 and a two-hundred day simple moving average of $9.34.

New Mountain Finance Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On New Mountain Finance

Several institutional investors have recently made changes to their positions in NMFC. Millennium Management LLC lifted its stake in New Mountain Finance by 36.9% in the 1st quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock worth $7,843,000 after purchasing an additional 191,518 shares in the last quarter. Huntington National Bank boosted its stake in New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company’s stock valued at $48,000 after buying an additional 3,433 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in New Mountain Finance in the 2nd quarter worth about $169,000. Acadian Asset Management LLC boosted its position in shares of New Mountain Finance by 266.7% during the 2nd quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock valued at $3,647,000 after acquiring an additional 251,596 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new position in shares of New Mountain Finance during the second quarter worth about $166,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

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.