New Mountain Finance Corp. (NYSE:NMFC) Director Steven B. Klinsky purchased 281,176 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average price of $13.40 per share, with a total value of $3,767,758.40. Following the completion of the purchase, the director now directly owns 5,823,600 shares in the company, valued at $78,036,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
New Mountain Finance Corp. (NYSE NMFC) traded down $0.06 during trading hours on Wednesday, hitting $13.15. The stock had a trading volume of 373,616 shares, compared to its average volume of 406,139. The company has a market cap of $994.75, a P/E ratio of 9.49 and a beta of 0.58. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.84. New Mountain Finance Corp. has a 1 year low of $12.05 and a 1 year high of $15.00.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.34%. New Mountain Finance’s payout ratio is 98.55%.
Separately, Keefe, Bruyette & Woods set a $15.00 price target on New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, March 1st.
Several large investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of New Mountain Finance during the 4th quarter valued at $2,954,000. Jane Street Group LLC bought a new stake in shares of New Mountain Finance during the 4th quarter valued at $234,000. Bramshill Investments LLC bought a new stake in shares of New Mountain Finance during the 4th quarter valued at $1,010,000. LPL Financial LLC lifted its position in shares of New Mountain Finance by 23.7% during the 4th quarter. LPL Financial LLC now owns 21,846 shares of the investment management company’s stock valued at $296,000 after acquiring an additional 4,191 shares during the period. Finally, Millennium Management LLC lifted its position in shares of New Mountain Finance by 29.5% during the 4th quarter. Millennium Management LLC now owns 463,360 shares of the investment management company’s stock valued at $6,279,000 after acquiring an additional 105,629 shares during the period. Hedge funds and other institutional investors own 39.97% of the company’s stock.
About New Mountain Finance
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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