New Mountain Finance (NASDAQ:NMFC) Sees Strong Trading Volume – Here’s What Happened

New Mountain Finance Co. (NASDAQ:NMFC) saw unusually-strong trading volume on Wednesday . Approximately 916,055 shares changed hands during trading, an increase of 133% from the previous session’s volume of 392,706 shares.The stock last traded at $11.14 and had previously closed at $11.12.

New Mountain Finance Trading Down 0.2 %

The company has a fifty day moving average of $11.49 and a 200-day moving average of $11.63. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.57 and a beta of 1.16.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). New Mountain Finance had a net margin of 30.28% and a return on equity of 11.25%. The firm had revenue of $92.89 million during the quarter, compared to analysts’ expectations of $93.23 million. As a group, equities research analysts anticipate that New Mountain Finance Co. will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 11.54%. New Mountain Finance’s payout ratio is currently 123.08%.

Insider Activity

In other New Mountain Finance news, Director David Ogens purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $11.44 per share, with a total value of $57,200.00. Following the completion of the acquisition, the director now owns 179,020 shares in the company, valued at approximately $2,047,988.80. This represents a 2.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Klinsky bought 72,280 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $11.28 per share, for a total transaction of $815,318.40. Following the acquisition, the director now owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. This represents a 1.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 10.22% of the company’s stock.

Institutional Investors Weigh In On New Mountain Finance

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of New Mountain Finance during the 3rd quarter worth about $26,000. Fox Run Management L.L.C. bought a new position in New Mountain Finance during the fourth quarter valued at about $114,000. MQS Management LLC bought a new stake in New Mountain Finance in the 4th quarter valued at $123,000. Larson Financial Group LLC lifted its stake in New Mountain Finance by 4,746.5% during the fourth quarter. Larson Financial Group LLC now owns 10,953 shares of the company’s stock worth $123,000 after purchasing an additional 10,727 shares during the period. Finally, Quantbot Technologies LP bought a new stake in New Mountain Finance in the third quarter valued at $129,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.