New Mountain Finance (NASDAQ:NMFC) EVP Adam Weinstein Acquires 12,900 Shares

New Mountain Finance Corporation (NASDAQ:NMFC) EVP Adam Weinstein bought 12,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average price of $7.61 per share, with a total value of $98,169.00. Following the completion of the transaction, the executive vice president directly owned 751,756 shares of the company’s stock, valued at $5,720,863.16. This represents a 1.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

New Mountain Finance Price Performance

NMFC traded up $0.01 during trading on Wednesday, reaching $7.90. The stock had a trading volume of 1,409,787 shares, compared to its average volume of 1,253,263. The business has a 50-day moving average of $8.44 and a 200-day moving average of $9.18. New Mountain Finance Corporation has a one year low of $7.51 and a one year high of $11.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.16 and a current ratio of 3.16. The stock has a market cap of $814.93 million, a PE ratio of 52.67 and a beta of 0.59.

New Mountain Finance Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on NMFC. Wells Fargo & Company reduced their price target 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 price objective on shares of New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their target price on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Finally, Zacks Research downgraded shares of New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and an average price target of $9.25.

Institutional Trading of New Mountain Finance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in New Mountain Finance by 23.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 606,264 shares of the company’s stock worth $5,844,000 after acquiring an additional 114,840 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of New Mountain Finance by 29.5% during the third quarter. JPMorgan Chase & Co. now owns 1,595,646 shares of the company’s stock valued at $15,382,000 after acquiring an additional 363,443 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of New Mountain Finance by 18.1% during the second quarter. Franklin Resources Inc. now owns 643,433 shares of the company’s stock valued at $6,788,000 after acquiring an additional 98,603 shares during the last quarter. Dimension Capital Management LLC boosted its holdings in shares of New Mountain Finance by 17.0% during the second quarter. Dimension Capital Management LLC now owns 950,072 shares of the company’s stock worth $10,023,000 after purchasing an additional 138,123 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of New Mountain Finance by 17.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 480,420 shares of the company’s stock worth $4,631,000 after purchasing an additional 70,277 shares during the period. Institutional investors own 32.08% of the company’s stock.

About New Mountain Finance

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.