New Mountain Finance Corp. (NYSE:NMFC) Director David Ogens acquired 1,799 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $13.53 per share, for a total transaction of $24,340.47. Following the completion of the acquisition, the director now directly owns 59,259 shares of the company’s stock, valued at $801,774.27. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of New Mountain Finance stock opened at $13.24 on Friday. New Mountain Finance Corp. has a twelve month low of $12.05 and a twelve month high of $14.38. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.26 and a beta of 0.53.
New Mountain Finance (NYSE:NMFC) last issued its quarterly earnings data on Wednesday, November 7th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). New Mountain Finance had a return on equity of 10.18% and a net margin of 45.47%. The business had revenue of $60.47 million during the quarter, compared to analyst estimates of $55.38 million. As a group, equities research analysts expect that New Mountain Finance Corp. will post 1.38 EPS for the current fiscal year.
NMFC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, August 14th. TheStreet downgraded shares of New Mountain Finance from a “b-” rating to a “c” rating in a research report on Friday, November 9th. ValuEngine raised shares of New Mountain Finance from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, Wells Fargo & Co cut their target price on shares of New Mountain Finance from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $14.67.
Several large investors have recently modified their holdings of NMFC. Castle Rock Wealth Management LLC acquired a new position in shares of New Mountain Finance in the 2nd quarter valued at approximately $139,000. Comerica Bank bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at approximately $144,000. Brown Advisory Inc. bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at approximately $154,000. Tocqueville Asset Management L.P. bought a new stake in shares of New Mountain Finance during the 2nd quarter valued at approximately $162,000. Finally, AJ Wealth Strategies LLC bought a new stake in shares of New Mountain Finance during the 3rd quarter valued at approximately $180,000. Institutional investors own 36.28% of the company’s stock.
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New Mountain Finance Company Profile
New Mountain Finance Corporation is a Business Development Company specializing in investments in middle market companies and debt securities at various levels of the capital structure, including first and second lien debt, unsecured notes, bonds, and mezzanine securities. It invests in various industries that include software, education, business services, distribution and logistics, federal services, healthcare services and products, healthcare facilities, energy, media, consumer and industrial services, healthcare Information Technology, Information Technology and services, specialty chemicals and materials, telecommunication, retail, and power generation.
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