New Mountain Finance Co. (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky bought 72,280 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $11.28 per share, for a total transaction of $815,318.40. Following the completion of the acquisition, the director now owns 4,285,505 shares in the company, valued at approximately $48,340,496.40. The trade was a 1.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of New Mountain Finance stock traded up $0.07 during mid-day trading on Thursday, hitting $11.18. The stock had a trading volume of 691,824 shares, compared to its average volume of 427,225. The firm has a 50-day moving average of $11.56 and a two-hundred day moving average of $11.99. The firm has a market cap of $1.21 billion, a P/E ratio of 10.65 and a beta of 1.15. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.11.
New Mountain Finance (NASDAQ:NMFC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%. The business had revenue of $95.33 million for the quarter, compared to analyst estimates of $94.10 million. During the same period last year, the business earned $0.40 EPS. New Mountain Finance's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that New Mountain Finance Co. will post 1.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.33 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.32 dividend on an annualized basis and a yield of 11.81%. This is a boost from New Mountain Finance's previous quarterly dividend of $0.32. New Mountain Finance's dividend payout ratio is presently 121.91%.
Separately, Wells Fargo & Company cut their target price on New Mountain Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th.
Read Our Latest Stock Analysis on NMFC
Several hedge funds have recently bought and sold shares of NMFC. BNP Paribas Financial Markets purchased a new position in shares of New Mountain Finance during the 3rd quarter worth approximately $26,000. Quarry LP raised its holdings in shares of New Mountain Finance by 68.3% in the 2nd quarter. Quarry LP now owns 3,307 shares of the company's stock valued at $40,000 after buying an additional 1,342 shares during the period. Clearstead Trust LLC acquired a new position in New Mountain Finance during the 2nd quarter worth about $98,000. Quantbot Technologies LP purchased a new position in New Mountain Finance during the 3rd quarter valued at about $129,000. Finally, Centiva Capital LP acquired a new position in New Mountain Finance in the 3rd quarter valued at about $130,000. Hedge funds and other institutional investors own 32.08% of the company's stock.
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.
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