Essex Financial Services Inc. Buys 4,783 Shares of New Mountain Finance Co. (NASDAQ:NMFC)

Essex Financial Services Inc. increased its stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,017 shares of the company’s stock after buying an additional 4,783 shares during the quarter. Essex Financial Services Inc.’s holdings in New Mountain Finance were worth $214,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its position in shares of New Mountain Finance by 3.5% during the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company’s stock valued at $399,000 after acquiring an additional 1,188 shares during the period. Confluence Investment Management LLC raised its stake in New Mountain Finance by 0.3% in the fourth quarter. Confluence Investment Management LLC now owns 429,806 shares of the company’s stock valued at $4,840,000 after purchasing an additional 1,472 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in New Mountain Finance during the third quarter worth about $26,000. Lindbrook Capital LLC grew its stake in New Mountain Finance by 0.7% during the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock worth $3,898,000 after buying an additional 2,389 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in New Mountain Finance by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 47,138 shares of the company’s stock valued at $565,000 after buying an additional 2,389 shares during the period. Institutional investors own 32.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Steven B. Klinsky bought 2,400 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were purchased at an average price of $11.74 per share, for a total transaction of $28,176.00. Following the completion of the transaction, the director now directly owns 4,118,522 shares of the company’s stock, valued at approximately $48,351,448.28. This represents a 0.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 132,371 shares of company stock worth $1,512,829 in the last ninety days. 10.22% of the stock is owned by insiders.

New Mountain Finance Trading Up 0.4 %

Shares of NMFC stock opened at $11.88 on Friday. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.01. The stock’s fifty day moving average price is $11.42 and its two-hundred day moving average price is $11.70. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $1.28 billion, a PE ratio of 11.31 and a beta of 1.15.

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.