Steven Klinsky Buys 250,495 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky acquired 250,495 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $7.94 per share, with a total value of $1,988,930.30. Following the completion of the acquisition, the director owned 4,754,338 shares in the company, valued at $37,749,443.72. This represents a 5.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

New Mountain Finance Stock Performance

NASDAQ:NMFC traded down $0.05 during midday trading on Thursday, reaching $8.10. 1,445,636 shares of the company traded hands, compared to its average volume of 1,181,129. The firm has a market capitalization of $835.60 million, a price-to-earnings ratio of 54.00 and a beta of 0.59. The company has a fifty day moving average price of $8.66 and a 200 day moving average price of $9.35. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16. New Mountain Finance Corporation has a twelve month low of $7.52 and a twelve month high of $11.46.

New Mountain Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 15.8%. The ex-dividend date is Tuesday, March 17th. New Mountain Finance’s payout ratio is presently 853.33%.

Analyst Ratings Changes

Several equities research analysts have issued reports on NMFC shares. Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. 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 research note on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their price objective on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $9.25.

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC bought a new position in shares of New Mountain Finance during the second quarter worth approximately $38,000. State of Alaska Department of Revenue acquired a new stake in New Mountain Finance during the third quarter worth approximately $47,000. Huntington National Bank increased its stake in New Mountain Finance by 311.8% during the 2nd quarter. Huntington National Bank now owns 4,534 shares of the company’s stock worth $48,000 after acquiring an additional 3,433 shares during the period. US Bancorp DE acquired a new position in New Mountain Finance in the 3rd quarter valued at $48,000. Finally, Advisory Services Network LLC bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at $65,000. 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.