New Mountain Finance (NASDAQ:NMFC) EVP Adam Weinstein Purchases 12,900 Shares of Stock

New Mountain Finance Corporation (NASDAQ:NMFC) EVP Adam Weinstein bought 12,900 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was bought at an average cost of $7.61 per share, with a total value of $98,169.00. Following the completion of the acquisition, the executive vice president owned 751,756 shares in the company, valued at $5,720,863.16. This represents a 1.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

New Mountain Finance Price Performance

NMFC stock traded up $0.06 during trading on Thursday, hitting $7.96. The company had a trading volume of 102,597 shares, compared to its average volume of 1,229,664. The company has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $9.17. 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 company has a market cap of $821.36 million, a P/E ratio of 53.05 and a beta of 0.59. New Mountain Finance Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $11.20.

New Mountain Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 16.1%. New Mountain Finance’s dividend payout ratio (DPR) is presently 853.33%.

Institutional Trading of New Mountain Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its holdings in shares of New Mountain Finance by 218.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,312 shares of the company’s stock valued at $141,000 after buying an additional 10,503 shares during the last quarter. Fund Advisors of America Inc FL bought a new stake in New Mountain Finance during the 4th quarter worth about $198,000. Corient Private Wealth LLC acquired a new stake in New Mountain Finance in the 4th quarter valued at about $7,450,000. Virtu Financial LLC increased its position in New Mountain Finance by 66.9% in the 4th quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock valued at $202,000 after acquiring an additional 8,785 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of New Mountain Finance in the fourth quarter worth about $146,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NMFC has been the topic of several analyst reports. 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 report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Wells Fargo & Company dropped 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. Finally, Zacks Research cut shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $9.25.

About New Mountain Finance

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.