Insider Buying: New Mountain Finance (NASDAQ:NMFC) Director Acquires 276,242 Shares of Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 276,242 shares of New Mountain Finance stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $8.05 per share, with a total value of $2,223,748.10. Following the completion of the acquisition, the director directly owned 5,370,858 shares of the company’s stock, valued at $43,235,406.90. This represents a 5.42% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

New Mountain Finance Stock Down 1.4%

Shares of NASDAQ:NMFC traded down $0.11 during trading on Thursday, reaching $7.92. The stock had a trading volume of 1,569,313 shares, compared to its average volume of 1,228,347. The firm’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $9.26. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. New Mountain Finance Corporation has a one year low of $7.52 and a one year high of $11.23. The company has a market capitalization of $817.00 million, a P/E ratio of 52.80 and a beta of 0.59.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 16.2%. The ex-dividend date of this dividend is Tuesday, March 17th. New Mountain Finance’s payout ratio is currently 853.33%.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently modified their holdings of NMFC. Corient Private Wealth LLC purchased a new stake in shares of New Mountain Finance in the fourth quarter worth about $7,450,000. Virtu Financial LLC raised its position in New Mountain Finance by 66.9% during the fourth 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. Mercer Global Advisors Inc. ADV purchased a new position in New Mountain Finance during the fourth quarter valued at approximately $146,000. XTX Topco Ltd acquired a new position in New Mountain Finance in the fourth quarter valued at approximately $1,728,000. Finally, VARCOV Co. purchased a new stake in New Mountain Finance in the 4th quarter worth approximately $853,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Wall Street Analyst Weigh In

NMFC has been the subject of a number of recent analyst reports. Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Wells Fargo & Company decreased their price target on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Keefe, Bruyette & Woods lowered their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Wednesday, March 4th. Finally, B. Riley Financial dropped their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, New Mountain Finance 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.