Laura Holson Boswerger Buys 12,500 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) COO Laura Holson Boswerger purchased 12,500 shares of New Mountain Finance stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $7.74 per share, for a total transaction of $96,750.00. Following the completion of the transaction, the chief operating officer directly owned 81,030 shares in the company, valued at $627,172.20. The trade was a 18.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

New Mountain Finance Stock Up 2.6%

Shares of New Mountain Finance stock opened at $7.99 on Wednesday. New Mountain Finance Corporation has a 1 year low of $7.52 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16. The company has a market capitalization of $824.25 million, a P/E ratio of 53.27 and a beta of 0.59. The business has a 50-day moving average of $8.68 and a two-hundred day moving average of $9.36.

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 paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 16.0%. The ex-dividend date is Tuesday, March 17th. New Mountain Finance’s dividend payout ratio is currently 853.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NMFC shares. B. Riley Financial decreased their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on New Mountain Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their target price on New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, Zacks Research lowered shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.42.

Hedge Funds Weigh In On New Mountain Finance

Institutional investors have recently modified their holdings of the business. Rivernorth Capital Management LLC bought a new position in New Mountain Finance during the fourth quarter valued at $12,326,000. Corient Private Wealth LLC purchased a new position in New Mountain Finance in the fourth quarter worth $7,450,000. Closed End Fund Advisors Inc. bought a new position in shares of New Mountain Finance during the 4th quarter valued at about $5,398,000. Truffle Hound Capital LLC purchased a new position in New Mountain Finance in the 4th quarter worth $5,066,000. Finally, JPMorgan Chase & Co. lifted its position in New Mountain Finance by 27.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after purchasing an additional 443,016 shares during the last quarter. 32.08% of the stock is owned by institutional investors.

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.