New Mountain Finance Co. (NASDAQ:NMFC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in New Mountain Finance Co. (NASDAQ:NMFC) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,884,556 shares of the company’s stock after selling 182,865 shares during the period. Allspring Global Investments Holdings LLC’s holdings in New Mountain Finance were worth $32,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at about $26,000. Quantbot Technologies LP acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at about $129,000. Centiva Capital LP acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at about $130,000. Wilmington Savings Fund Society FSB acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at about $168,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of New Mountain Finance in the 3rd quarter valued at about $169,000. 32.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven B. Klinsky purchased 72,280 shares of New Mountain Finance stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $11.28 per share, with a total value of $815,318.40. Following the transaction, the director now owns 4,285,505 shares of the company’s stock, valued at approximately $48,340,496.40. The trade was a 1.72 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 132,371 shares of company stock valued at $1,512,829. Corporate insiders own 10.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price target on 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 Stock Performance

New Mountain Finance stock opened at $11.93 on Friday. The stock’s 50 day moving average price is $11.42 and its 200 day moving average price is $11.70. The firm has a market capitalization of $1.29 billion, a PE ratio of 11.36 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. New Mountain Finance Co. has a one year low of $10.61 and a one year high of $13.01.

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.