New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline Sells 1,238 Shares

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline sold 1,238 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $12.55, for a total transaction of $15,536.90. Following the completion of the sale, the chief executive officer now directly owns 254,610 shares in the company, valued at approximately $3,195,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

New Mountain Finance Stock Down 1.1 %

NMFC stock opened at $12.58 on Friday. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.34. New Mountain Finance Co. has a fifty-two week low of $11.38 and a fifty-two week high of $13.23. The firm’s 50-day simple moving average is $12.60 and its 200 day simple moving average is $12.72. The stock has a market cap of $1.34 billion, a PE ratio of 10.06 and a beta of 1.13.

New Mountain Finance (NASDAQ:NMFC) last released its quarterly earnings data on Monday, February 26th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $94.03 million. New Mountain Finance had a net margin of 36.13% and a return on equity of 11.93%. During the same quarter last year, the company earned $0.35 EPS. As a group, sell-side analysts predict that New Mountain Finance Co. will post 1.53 EPS for the current year.

New Mountain Finance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.36 per share. This is a boost from New Mountain Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.44 annualized dividend and a yield of 11.45%. New Mountain Finance’s dividend payout ratio (DPR) is presently 102.40%.

Hedge Funds Weigh In On New Mountain Finance

Several large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in New Mountain Finance by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 119,726 shares of the company’s stock valued at $1,517,000 after buying an additional 2,032 shares during the period. Verity & Verity LLC acquired a new position in New Mountain Finance during the 1st quarter valued at about $1,048,000. Oak Family Advisors LLC increased its stake in New Mountain Finance by 175.8% during the 1st quarter. Oak Family Advisors LLC now owns 149,364 shares of the company’s stock valued at $1,892,000 after buying an additional 95,208 shares during the period. Spire Wealth Management increased its stake in New Mountain Finance by 9.7% during the 1st quarter. Spire Wealth Management now owns 36,425 shares of the company’s stock valued at $462,000 after buying an additional 3,212 shares during the period. Finally, PFG Investments LLC increased its stake in New Mountain Finance by 125.1% during the 1st quarter. PFG Investments LLC now owns 38,911 shares of the company’s stock valued at $493,000 after buying an additional 21,622 shares during the period. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price objective on shares of New Mountain Finance from $12.00 to $12.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.