New Mountain Finance Co. (NASDAQ: NMFC – Get a rating) insider Joseph Hartswell acquired 4,500 shares of the company in a trade on Friday, May 20. The shares were purchased at an average price of $12.65 per share, for a total transaction of $56,925.00. Following the completion of the transaction, the insider now owns 10,143 shares of the company, valued at $128,308.95. The transaction was disclosed in an SEC filing, available at this link.
Shares of NASDAQ NMFC were down $0.17 in Friday’s midday session, hitting $12.42. The company’s shares had a trading volume of 464,009 shares, compared to an average volume of 357,415. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt ratio of 1, 42. The company’s 50-day moving average is $13.43 and its two-hundred-day moving average is $13.52. New Mountain Finance Co. has a 12-month low of $12.26 and a 12-month high of $14.11. The company has a market capitalization of $1.25 billion, a P/E ratio of 7.00 and a beta of 1.24.
New Mountain Finance (NASDAQ: NMFC – Get a rating) last released its quarterly results on Monday, February 28. The company reported earnings per share of $0.31 for the quarter, hitting the consensus estimate of $0.31. New Mountain Finance had a return on equity of 8.99% and a net margin of 68.37%. The company posted revenue of $68.22 million for the quarter, versus a consensus estimate of $67.25 million. In the same period a year earlier, the company posted earnings per share of $0.30. On average, analysts predict New Mountain Finance Co. will post 1.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Thursday, June 16 will receive a dividend of $0.30. The ex-date of this dividend is Wednesday, June 15. This represents an annualized dividend of $1.20 and a dividend yield of 9.66%. New Mountain Finance’s payout ratio is 68.18%.
Several hedge funds and other institutional investors have recently changed their holdings in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of New Mountain Finance in the fourth quarter for a value of approximately $42,510,000. Round Table Services LLC increased its stake in New Mountain Finance by 7.6% in the first quarter. Round Table Services LLC now owns 2,976,086 shares of the company worth $41,219,000 after purchasing an additional 209,532 shares in the last quarter. LSV Asset Management increased its stake in New Mountain Finance by 2.1% in the first quarter. LSV Asset Management now owns 2,098,498 shares of the company worth $29,064,000 after purchasing an additional 43,500 shares last quarter. Van ECK Associates Corp increased its stake in New Mountain Finance by 45.7% in the first quarter. Van ECK Associates Corp now owns 2,087,012 shares of the company worth $28,905,000 after purchasing an additional 654,394 shares in the last quarter. Finally, Cliffwater LLC increased its stake in New Mountain Finance by 12.1% in the first quarter. Cliffwater LLC now owns 1,204,821 shares of the company worth $16,687,000 after purchasing an additional 129,653 shares in the last quarter. Hedge funds and other institutional investors own 30.15% of the company’s shares.
A number of brokerages have published reports on NMFC. Hovde Group lowered its price target on New Mountain Finance to $12.50 in a research report on Friday. Janney Montgomery Scott began coverage of New Mountain Finance in a research report on Monday, February 7. They set a “buy” rating on the stock.
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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