Steven Klinsky Buys 237,873 Shares of New Mountain Finance (NASDAQ:NMFC) Stock

New Mountain Finance Corporation (NASDAQ:NMFC) Director Steven Klinsky bought 237,873 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $8.10 per share, with a total value of $1,926,771.30. Following the transaction, the director directly owned 5,037,524 shares in the company, valued at $40,803,944.40. This represents a 4.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

New Mountain Finance Price Performance

NMFC stock traded down $0.12 during trading on Friday, hitting $7.98. 1,481,323 shares of the stock traded hands, compared to its average volume of 1,188,139. The stock has a market cap of $823.22 million, a price-to-earnings ratio of 53.20 and a beta of 0.59. New Mountain Finance Corporation has a one year low of $7.52 and a one year high of $11.46. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.41. The company has a 50 day simple moving average of $8.64 and a 200 day simple moving average of $9.34.

New Mountain Finance Dividend Announcement

The firm also recently announced 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. This represents a $1.28 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, March 17th. New Mountain Finance’s payout ratio is presently 853.33%.

Institutional Investors Weigh In On New Mountain Finance

Institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management raised its stake in New Mountain Finance by 13.4% during the 4th quarter. LSV Asset Management now owns 2,986,718 shares of the company’s stock worth $27,508,000 after buying an additional 353,062 shares during the period. Van ECK Associates Corp raised its position in shares of New Mountain Finance by 4.6% during the third quarter. Van ECK Associates Corp now owns 2,589,798 shares of the company’s stock worth $24,966,000 after purchasing an additional 115,004 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of New Mountain Finance by 27.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,038,662 shares of the company’s stock valued at $18,776,000 after purchasing an additional 443,016 shares in the last quarter. UBS Group AG lifted its holdings in shares of New Mountain Finance by 33.4% during the 4th quarter. UBS Group AG now owns 1,541,128 shares of the company’s stock valued at $14,194,000 after purchasing an additional 385,891 shares in the last quarter. Finally, Rivernorth Capital Management LLC acquired a new position in shares of New Mountain Finance in the 4th quarter valued at approximately $12,326,000. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. B. Riley Financial dropped their price target on New Mountain Finance from $10.00 to $7.50 and set a “neutral” rating for the company in a report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of New Mountain Finance in a report on Thursday, January 22nd. Zacks Research lowered New Mountain Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods cut their price target on New Mountain Finance from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased 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 report on Thursday, February 26th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus 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.