New Mountain Finance Co. (NASDAQ: NMFC – Get a rating) CEO Robert Hamwee bought 20,000 shares of the company in a deal that took place on Wednesday, June 15. The shares were purchased at an average cost of $11.63 per share, for a total transaction of $232,600.00. As a result of the purchase, the CEO now owns 514,584 shares of the company, valued at approximately $5,984,611.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink.
New action of Mountain Finance traded at $0.26 during the midday session on Friday, reaching $11.46. 1,581,956 shares of the company were traded, against an average volume of 381,344. The company has a debt ratio of 1.42, a quick ratio of 1.43 and a current ratio of 1.43. The company’s 50-day simple moving average is $13.02 and its two-hundred-day simple moving average is $13.36. The company has a market capitalization of $1.15 billion, a PE ratio of 6.36 and a beta of 1.24. New Mountain Finance Co. has a 12-month low of $11.09 and a 12-month high of $14.11.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Thursday, June 16 will receive a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 15. This represents an annualized dividend of $1.20 and a yield of 10.47%. New Mountain Finance’s dividend payout ratio is currently 68.18%.
Separately, Hovde Group lowered its price target on New Mountain Finance to $12.50 in a Friday, May 20 report.
A number of hedge funds have recently changed their stock holdings. Mutual Advisors LLC increased its stake in New Mountain Finance by 3.1% during the first quarter. Mutual Advisors LLC now owns 25,902 shares of the company worth $359,000 after buying 787 additional shares in the last quarter. National Asset Management Inc. increased its position in New Mountain Finance by 9.1% during the third quarter. National Asset Management Inc. now owns 11,929 shares of the company worth $159,000 after buying an additional 1,000 shares last quarter. Advisory Services Network LLC increased its position in New Mountain Finance by 4.9% during the first quarter. Advisory Services Network LLC now owns 21,390 shares of the company worth $296,000 after purchasing an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC increased its position in New Mountain Finance by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 95,163 shares of the company worth $1,304,000 after purchasing an additional 1,090 shares last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in New Mountain Finance by 1.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 77,885 shares of the company worth $1,079,000 after purchasing an additional 1,357 shares last quarter. 30.15% of the shares are held by hedge funds and other institutional investors.
About New Mountain Finance (Get a rating)
New Mountain Finance Corporation (Nasdaq: NMFC), a business development company, is a private equity/buyout and lending fund specializing in direct investment and lending to middle-market companies in defensive growth industries. The fund favors investments in buyout and middle market companies. It also invests in debt securities at all levels of the capital structure, including senior and junior debt securities, unsecured notes and mezzanine securities.
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