Insider Buying: New Mountain Finance (NASDAQ:NMFC) Director Purchases 186,905 Shares of Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 186,905 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average price of $8.17 per share, with a total value of $1,527,013.85. Following the completion of the purchase, the director directly owned 4,878,942 shares in the company, valued at $39,860,956.14. This represents a 3.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

New Mountain Finance Stock Performance

New Mountain Finance stock traded down $0.05 during mid-day trading on Thursday, reaching $8.10. 1,445,636 shares of the company traded hands, compared to its average volume of 1,181,129. The firm’s fifty day moving average is $8.66 and its two-hundred day moving average is $9.35. The company has a market capitalization of $835.60 million, a price-to-earnings ratio of 54.00 and a beta of 0.59. New Mountain Finance Corporation has a fifty-two week low of $7.52 and a fifty-two week high of $11.46. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.16 and a quick ratio of 3.16.

New Mountain Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued 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 dividend yield of 15.8%. New Mountain Finance’s dividend payout ratio is currently 853.33%.

Institutional Trading of New Mountain Finance

Several institutional investors have recently bought and sold shares of NMFC. Virtu Financial LLC raised its stake in shares of New Mountain Finance by 66.9% during the 4th quarter. Virtu Financial LLC now owns 21,914 shares of the company’s stock worth $202,000 after buying an additional 8,785 shares during the period. Corient Private Wealth LLC purchased a new stake in New Mountain Finance in the 4th quarter worth $7,450,000. Mercer Global Advisors Inc. ADV acquired a new position in New Mountain Finance during the fourth quarter worth $146,000. XTX Topco Ltd acquired a new position in New Mountain Finance during the fourth quarter worth $1,728,000. Finally, VARCOV Co. purchased a new position in New Mountain Finance during the fourth quarter valued at $853,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NMFC. Weiss Ratings reiterated a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Wells Fargo & Company cut 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 note on Thursday, February 26th. Zacks Research downgraded 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 lowered their price target on shares of New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, B. Riley Financial cut their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, New Mountain Finance currently has an average rating of “Reduce” and a consensus 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.