New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline Acquires 8,200 Shares

New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) CEO John Kline bought 8,200 shares of the business’s stock in a transaction on Friday, March 10th. The shares were acquired at an average price of $12.05 per share, with a total value of $98,810.00. Following the completion of the purchase, the chief executive officer now directly owns 229,572 shares of the company’s stock, valued at $2,766,342.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

New Mountain Finance Stock Up 2.4 %

Shares of NMFC opened at $11.96 on Wednesday. New Mountain Finance Co. has a 52 week low of $11.09 and a 52 week high of $14.03. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 16.61 and a beta of 1.14. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.94 and a current ratio of 2.94. The stock has a fifty day moving average of $12.75 and a 200-day moving average of $12.44.

New Mountain Finance (NASDAQ:NMFC – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. New Mountain Finance had a return on equity of 9.68% and a net margin of 25.38%. The company had revenue of $73.90 million during the quarter, compared to analysts’ expectations of $83.42 million. During the same period in the prior year, the company earned $0.31 EPS. As a group, sell-side analysts anticipate that New Mountain Finance Co. will post 1.47 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.28 dividend on an annualized basis and a yield of 10.70%. New Mountain Finance’s payout ratio is 177.78%.

Institutional Trading of New Mountain Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. NCM Capital Management LLC increased its holdings in New Mountain Finance by 43.4% in the second quarter. NCM Capital Management LLC now owns 110,023 shares of the company’s stock valued at $1,310,000 after purchasing an additional 33,324 shares during the period. LSV Asset Management grew its holdings in New Mountain Finance by 4.8% during the 3rd quarter. LSV Asset Management now owns 2,197,426 shares of the company’s stock worth $25,336,000 after acquiring an additional 100,628 shares during the period. Wedbush Securities Inc. grew its holdings in New Mountain Finance by 7.8% during the 3rd quarter. Wedbush Securities Inc. now owns 130,341 shares of the company’s stock worth $1,503,000 after acquiring an additional 9,410 shares during the period. Guild Investment Management Inc. grew its holdings in New Mountain Finance by 5.4% during the 3rd quarter. Guild Investment Management Inc. now owns 80,950 shares of the company’s stock worth $933,000 after acquiring an additional 4,120 shares during the period. Finally, Kennedy Capital Management Inc. grew its holdings in New Mountain Finance by 8.7% during the 2nd quarter. Kennedy Capital Management Inc. now owns 24,147 shares of the company’s stock worth $288,000 after acquiring an additional 1,934 shares during the period. 30.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on New Mountain Finance from $12.50 to $13.00 in a research note on Wednesday, March 1st.

New Mountain Finance Company Profile

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New Mountain Finance Corp. is a is an externally managed, closed-end, non-diversified management investment company, which engages in investments in the middle market. Its objective investment is to generate current income and capital appreciation through investments in debt securities and equity interests.