New Mountain Finance (NASDAQ:NMFC) Director Buys $1,926,771.30 in Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 237,873 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $8.10 per share, for a total transaction of $1,926,771.30. Following the completion of the purchase, the director directly owned 5,037,524 shares in the company, valued at $40,803,944.40. The trade was a 4.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

New Mountain Finance Stock Performance

New Mountain Finance stock traded down $0.12 on Friday, reaching $7.98. 1,481,323 shares of the stock were exchanged, compared to its average volume of 1,188,139. 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 twelve month low of $7.52 and a twelve month high of $11.46. The firm has a fifty day moving average price of $8.64 and a two-hundred day moving average price of $9.34. The stock has a market cap of $823.22 million, a PE ratio of 53.20 and a beta of 0.59.

New Mountain Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, March 17th. New Mountain Finance’s dividend payout ratio is currently 853.33%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its stake in shares of New Mountain Finance by 66.9% in the 4th quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock valued at $202,000 after purchasing an additional 8,785 shares during the period. Corient Private Wealth LLC acquired a new stake in New Mountain Finance in the 4th quarter valued at $7,450,000. Mercer Global Advisors Inc. ADV bought a new stake in New Mountain Finance in the fourth quarter valued at $146,000. XTX Topco Ltd bought a new stake in New Mountain Finance in the fourth quarter valued at $1,728,000. Finally, VARCOV Co. acquired a new position in New Mountain Finance during the fourth quarter worth $853,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NMFC shares. Zacks Research downgraded shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods cut their price objective on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday. B. Riley Financial reduced their target price on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their price target 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 reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target 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.