New Mountain Finance (NASDAQ:NMFC) EVP Purchases 12,900 Shares

New Mountain Finance Corporation (NASDAQ:NMFC) EVP Adam Weinstein purchased 12,900 shares of the stock in a transaction on Tuesday, March 17th. The shares were acquired at an average cost of $7.61 per share, with a total value of $98,169.00. Following the transaction, the executive vice president directly owned 751,756 shares in the company, valued at $5,720,863.16. The trade was a 1.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

New Mountain Finance Trading Up 0.1%

Shares of NMFC stock traded up $0.01 during trading hours on Wednesday, reaching $7.90. The company’s stock had a trading volume of 1,409,787 shares, compared to its average volume of 1,253,263. The stock has a market capitalization of $814.93 million, a P/E ratio of 52.67 and a beta of 0.59. New Mountain Finance Corporation has a one year low of $7.51 and a one year high of $11.20. The firm’s fifty day simple moving average is $8.44 and its 200 day simple moving average is $9.18. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41.

New Mountain Finance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 16.2%. New Mountain Finance’s dividend payout ratio (DPR) is presently 853.33%.

Hedge Funds Weigh In On New Mountain Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at $38,000. State of Alaska Department of Revenue bought a new position in shares of New Mountain Finance in the 3rd quarter worth about $47,000. US Bancorp DE bought a new position in shares of New Mountain Finance in the 3rd quarter worth about $48,000. Advisory Services Network LLC purchased a new position in New Mountain Finance during the 3rd quarter valued at about $65,000. Finally, Sound Income Strategies LLC boosted its stake in New Mountain Finance by 699.5% during the fourth quarter. Sound Income Strategies LLC now owns 7,683 shares of the company’s stock worth $70,000 after acquiring an additional 6,722 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NMFC shares. Wells Fargo & Company reduced their price objective on shares of New Mountain Finance from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. B. Riley Financial cut their target price 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, March 3rd. Zacks Research cut shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods decreased their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a 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. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $9.25.

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.