New Mountain Finance (NASDAQ:NMFC) Sees Large Volume Increase

New Mountain Finance Co. (NASDAQ:NMFC) saw an uptick in trading volume on Friday . 176,433 shares traded hands during trading, a decline of 58% from the previous session’s volume of 419,478 shares.The stock last traded at $12.24 and had previously closed at $12.21.

New Mountain Finance Stock Up 0.2 %

The company’s fifty day moving average price is $12.52 and its 200-day moving average price is $12.65. The stock has a market capitalization of $1.32 billion, a PE ratio of 11.03 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28.

New Mountain Finance (NASDAQ:NMFC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). New Mountain Finance had a return on equity of 11.80% and a net margin of 31.67%. The firm had revenue of $90.56 million during the quarter, compared to analysts’ expectations of $90.08 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. New Mountain Finance’s revenue was down 1.5% on a year-over-year basis. Analysts forecast that New Mountain Finance Co. will post 1.43 earnings per share for the current year.

New Mountain Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.32 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a yield of 10.46%. New Mountain Finance’s payout ratio is currently 115.32%.

Insider Buying and Selling

In other news, Director David Ogens acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $12.62 per share, for a total transaction of $44,170.00. Following the acquisition, the director now directly owns 166,391 shares in the company, valued at $2,099,854.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On New Mountain Finance

Hedge funds have recently added to or reduced their stakes in the stock. Morton Brown Family Wealth LLC purchased a new stake in New Mountain Finance during the 4th quarter valued at $35,000. Hillsdale Investment Management Inc. bought a new stake in shares of New Mountain Finance during the 1st quarter valued at $40,000. EntryPoint Capital LLC bought a new stake in shares of New Mountain Finance during the 1st quarter valued at $52,000. Barclays PLC bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at $63,000. Finally, Lazard Asset Management LLC bought a new stake in shares of New Mountain Finance during the 1st quarter valued at $126,000. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

About New Mountain Finance

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.