Key Points
- Director Steven Klinsky purchased 186,905 shares at an average price of $8.17 (total ~$1.53M), increasing his stake to 4,878,942 shares — a 3.98% ownership increase.
- New Mountain Finance declared a quarterly dividend of $0.32 (annualized $1.28) with an ex-dividend date of March 17, implying a 16.0% yield
- Analyst sentiment has cooled with several downgrades and lower price targets (consensus rating "Reduce" and average target $9.25), while the stock trades near $8.01 amid reduced volume.
New Mountain Finance Corporation (NASDAQ:NMFC - Get Free Report) Director Steven Klinsky purchased 186,905 shares of New Mountain Finance stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $8.17 per share, for a total transaction of $1,527,013.85. Following the acquisition, the director owned 4,878,942 shares in the company, valued at $39,860,956.14. This trade represents a 3.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
New Mountain Finance Trading Down 1.1%
Shares of New Mountain Finance stock traded down $0.09 during midday trading on Friday, reaching $8.01. 210,909 shares of the company's stock traded hands, compared to its average volume of 1,158,331. The company has a market cap of $826.31 million, a PE ratio of 53.40 and a beta of 0.59. The stock has a 50 day moving average of $8.64 and a 200-day moving average of $9.34. New Mountain Finance Corporation has a 12 month low of $7.52 and a 12 month high of $11.46. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16.
New Mountain Finance Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 16.0%. New Mountain Finance's payout ratio is currently 853.33%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. B. Riley Financial cut their price objective on New Mountain Finance from $10.00 to $7.50 and set a "neutral" rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered 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 note on Thursday, February 26th. Zacks Research lowered New Mountain Finance from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods reduced their price target on New Mountain Finance from $10.00 to $9.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of New Mountain Finance in a research 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's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $9.25.
Check Out Our Latest Analysis on NMFC
Institutional Investors Weigh In On New Mountain Finance
Several institutional investors and hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC bought a new stake in New Mountain Finance during the 2nd quarter worth approximately $38,000. Huntington National Bank grew its position in shares of New Mountain Finance by 311.8% during the second quarter. Huntington National Bank now owns 4,534 shares of the company's stock valued at $48,000 after purchasing an additional 3,433 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in New Mountain Finance in the 3rd quarter worth approximately $47,000. US Bancorp DE purchased a new stake in New Mountain Finance during the third quarter valued at $48,000. Finally, Advisory Services Network LLC bought a new stake in New Mountain Finance during the third quarter worth approximately $65,000. Institutional investors own 32.08% of the company's stock.
New Mountain Finance Company Profile
(
Get Free Report)
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.
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