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

New Mountain Finance Co. (NASDAQ:NMFC) CEO John Kline sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $12.55, for a total value of $15,536.90. Following the sale, the chief executive officer now owns 254,610 shares in the company, valued at $3,195,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

New Mountain Finance Price Performance

NMFC stock traded up $0.02 during trading on Wednesday, hitting $12.72. The company had a trading volume of 240,583 shares, compared to its average volume of 430,310. The company has a fifty day moving average price of $12.60 and a two-hundred day moving average price of $12.72. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.35 billion, a P/E ratio of 10.16 and a beta of 1.13. New Mountain Finance Co. has a fifty-two week low of $11.38 and a fifty-two week high of $13.23.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.03 million. New Mountain Finance had a return on equity of 11.93% and a net margin of 36.13%. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities research analysts expect that New Mountain Finance Co. will post 1.53 earnings per share for the current fiscal year.

New Mountain Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.44 dividend on an annualized basis and a yield of 11.32%. This is a positive change from New Mountain Finance’s previous quarterly dividend of $0.32. New Mountain Finance’s payout ratio is currently 102.40%.

Hedge Funds Weigh In On New Mountain Finance

Several large investors have recently made changes to their positions in the company. WFA Asset Management Corp increased its holdings in New Mountain Finance by 2.5% in the fourth quarter. WFA Asset Management Corp now owns 44,149 shares of the company’s stock valued at $562,000 after purchasing an additional 1,057 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of New Mountain Finance by 5.0% in the fourth quarter. Mutual Advisors LLC now owns 25,246 shares of the company’s stock worth $321,000 after acquiring an additional 1,200 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of New Mountain Finance by 1.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 105,069 shares of the company’s stock worth $1,361,000 after acquiring an additional 1,455 shares in the last quarter. Reuter James Wealth Management LLC increased its holdings in shares of New Mountain Finance by 5.1% in the third quarter. Reuter James Wealth Management LLC now owns 34,299 shares of the company’s stock worth $444,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Tranquility Partners LLC increased its holdings in shares of New Mountain Finance by 2.4% in the third quarter. Tranquility Partners LLC now owns 99,767 shares of the company’s stock worth $1,292,000 after acquiring an additional 2,305 shares in the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their price target on New Mountain Finance from $12.00 to $12.50 and gave the company an “equal weight” rating in a research note 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.