New Mountain Finance (NASDAQ:NMFC) Director Steven Klinsky Purchases 223,758 Shares of Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky purchased 223,758 shares of New Mountain Finance stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $8.05 per share, for a total transaction of $1,801,251.90. Following the completion of the purchase, the director owned 5,186,696 shares in the company, valued at $41,752,902.80. This represents a 4.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock traded down $0.04 during midday trading on Friday, hitting $7.89. 621,849 shares of the company traded hands, compared to its average volume of 1,214,754. The stock has a market cap of $813.42 million, a price-to-earnings ratio of 52.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16. The firm’s fifty day moving average price is $8.52 and its 200-day moving average price is $9.26. New Mountain Finance Corporation has a 12 month low of $7.52 and a 12 month high of $11.20.

New Mountain Finance Announces Dividend

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

Hedge Funds Weigh In On New Mountain Finance

A number of hedge funds have recently made changes to their positions in NMFC. LSV Asset Management lifted its stake in shares of New Mountain Finance by 13.4% in the fourth quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock worth $27,508,000 after acquiring an additional 353,062 shares during the period. Van ECK Associates Corp increased its position in New Mountain Finance by 4.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock valued at $24,966,000 after purchasing an additional 115,004 shares during the period. JPMorgan Chase & Co. raised its holdings in New Mountain Finance by 27.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock worth $18,776,000 after purchasing an additional 443,016 shares during the last quarter. UBS Group AG lifted its position in shares of New Mountain Finance by 33.4% in the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock worth $14,194,000 after purchasing an additional 385,891 shares during the period. Finally, Rivernorth Capital Management LLC bought a new stake in shares of New Mountain Finance in the 4th quarter valued at $12,326,000. 32.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NMFC shares. Keefe, Bruyette & Woods lowered their target price 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. B. Riley Financial reduced their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Wells Fargo & Company cut their target price on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, New Mountain Finance currently has an average 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.