New Mountain Finance (NASDAQ:NMFC) Sees Unusually-High Trading Volume – Time to Buy?

Shares of New Mountain Finance Co. (NASDAQ:NMFC) saw an uptick in trading volume on Tuesday . 359,153 shares were traded during mid-day trading, an increase of 6% from the previous session’s volume of 337,883 shares.The stock last traded at $11.94 and had previously closed at $11.94.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price target on shares of New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th.

New Mountain Finance Price Performance

The company has a fifty day simple moving average of $11.44 and a two-hundred day simple moving average of $11.68. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.37 and a beta of 1.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.

Insider Buying and Selling

In other news, Director Steven B. Klinsky acquired 72,280 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $11.28 per share, with a total value of $815,318.40. Following the completion of the purchase, the director now directly owns 4,285,505 shares of the company’s stock, valued at $48,340,496.40. The trade was a 1.72 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 95,104 shares of company stock valued at $1,083,334 over the last quarter. 10.34% of the stock is owned by company insiders.

Institutional Trading of New Mountain Finance

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC grew its stake in shares of New Mountain Finance by 2.7% during the third quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock worth $45,811,000 after buying an additional 100,315 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock valued at $25,980,000 after purchasing an additional 168,719 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of New Mountain Finance during the third quarter worth about $375,000. Rockingstone Advisors LLC increased its stake in shares of New Mountain Finance by 79.1% in the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock valued at $3,177,000 after buying an additional 124,599 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in New Mountain Finance in the 4th quarter valued at approximately $208,000. 32.08% of the stock is currently owned by institutional investors.

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.