New Mountain Finance (NASDAQ:NMFC) Director Steven B. Klinsky Purchases 106,691 Shares

Key Points

• Director Steven Klinsky acquired 106,691 shares of New Mountain Finance at an average price of $9.78, increasing his total ownership to approximately 4.37 million shares.
• The company declared a quarterly dividend of $0.32 per share, with an ex-dividend date of September 16th, resulting in an annualized dividend yield of 13.0%.
• Analysts have a consensus rating of "Reduce" on the stock, with an average price target set at $10.60, reflecting a mixture of performance ratings from various research firms.

New Mountain Finance Corporation (NASDAQ:NMFC - Get Free Report) Director Steven B. Klinsky acquired 106,691 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average cost of $9.78 per share, for a total transaction of $1,043,437.98. Following the transaction, the director owned 4,370,857 shares of the company's stock, valued at approximately $42,746,981.46. This represents a 2.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

New Mountain Finance Stock Down 0.9%

NMFC traded down $0.09 during midday trading on Monday, hitting $9.82. 931,461 shares of the company's stock traded hands, compared to its average volume of 576,423. The company has a market cap of $1.04 billion, a PE ratio of 7.62 and a beta of 0.80. The stock's fifty day simple moving average is $10.42 and its 200-day simple moving average is $10.45. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. New Mountain Finance Corporation has a one year low of $8.84 and a one year high of $12.09.

New Mountain Finance (NASDAQ:NMFC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. The company had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, equities analysts anticipate that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.0%. New Mountain Finance's dividend payout ratio (DPR) is currently 168.42%.

Institutional Investors Weigh In On New Mountain Finance

A number of institutional investors have recently bought and sold shares of NMFC. MTM Investment Management LLC acquired a new stake in New Mountain Finance during the second quarter worth $38,000. Huntington National Bank boosted its stake in shares of New Mountain Finance by 311.8% in the 2nd 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. MAI Capital Management boosted its stake in shares of New Mountain Finance by 44.9% in the 1st quarter. MAI Capital Management now owns 7,295 shares of the company's stock valued at $80,000 after purchasing an additional 2,261 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of New Mountain Finance by 240.4% in the 4th quarter. BNP Paribas Financial Markets now owns 7,488 shares of the company's stock valued at $84,000 after purchasing an additional 5,288 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of New Mountain Finance by 360.7% in the 1st quarter. Quarry LP now owns 8,095 shares of the company's stock valued at $89,000 after purchasing an additional 6,338 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NMFC. Oppenheimer set a $11.00 price target on shares of New Mountain Finance and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Bank of America reissued an "underperform" rating and issued a $10.00 price target (down previously from $11.75) on shares of New Mountain Finance in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, New Mountain Finance currently has a consensus rating of "Reduce" and a consensus target price of $10.60.

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.