Steven Klinsky Buys 276,242 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 276,242 shares of the stock in a transaction on Wednesday, March 11th. The shares were acquired at an average cost of $8.05 per share, for a total transaction of $2,223,748.10. Following the purchase, the director owned 5,370,858 shares in the company, valued at $43,235,406.90. The trade was a 5.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

New Mountain Finance Price Performance

Shares of NASDAQ NMFC opened at $7.90 on Friday. The firm has a 50-day simple moving average of $8.49 and a 200-day simple moving average of $9.24. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $814.96 million, a price-to-earnings ratio of 52.67 and a beta of 0.59. New Mountain Finance Corporation has a 52 week low of $7.52 and a 52 week high of $11.20.

New Mountain Finance Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 16.2%. New Mountain Finance’s dividend payout ratio is presently 853.33%.

Institutional Trading of New Mountain Finance

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in New Mountain Finance by 36.9% in the first quarter. Millennium Management LLC now owns 711,050 shares of the company’s stock valued at $7,843,000 after acquiring an additional 191,518 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in New Mountain Finance during the second quarter worth $169,000. Acadian Asset Management LLC increased its stake in New Mountain Finance by 266.7% during the second quarter. Acadian Asset Management LLC now owns 345,926 shares of the company’s stock worth $3,647,000 after acquiring an additional 251,596 shares during the last quarter. Vise Technologies Inc. acquired a new stake in New Mountain Finance during the second quarter worth $166,000. Finally, Advyzon Investment Management LLC purchased a new stake in New Mountain Finance in the second quarter valued at $126,000. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a research report on Thursday, January 22nd. 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. Zacks Research cut New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Finally, B. Riley Financial cut their target price on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, New Mountain Finance presently has a consensus rating of “Reduce” and a consensus price target of $9.25.

About New Mountain Finance

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.