Essex Financial Services Inc. Has $214,000 Stake in New Mountain Finance Co. (NASDAQ:NMFC)

Essex Financial Services Inc. boosted its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 33.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,017 shares of the company’s stock after buying an additional 4,783 shares during the period. Essex Financial Services Inc.’s holdings in New Mountain Finance were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NMFC. Inspire Investing LLC raised 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 last quarter. Confluence Investment Management LLC grew its position in shares of New Mountain Finance by 0.3% in the 4th 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 during the period. BNP Paribas Financial Markets bought a new stake in New Mountain Finance during the 3rd quarter worth approximately $26,000. Lindbrook Capital LLC raised its holdings in New Mountain Finance by 0.7% during the 3rd 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 during the period. Finally, Stifel Financial Corp lifted its stake in New Mountain Finance by 5.3% in the third 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 in the last quarter. 32.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Steven B. Klinsky acquired 2,400 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $11.74 per share, with a total value of $28,176.00. Following the acquisition, the director now owns 4,118,522 shares in the company, valued at $48,351,448.28. This represents a 0.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 132,371 shares of company stock valued at $1,512,829 in the last three months. 10.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price objective 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

NASDAQ NMFC opened at $11.88 on Friday. The company has a market capitalization of $1.28 billion, a PE ratio of 11.31 and a beta of 1.15. New Mountain Finance Co. has a 12-month low of $10.61 and a 12-month high of $13.01. The firm’s 50 day moving average is $11.42 and its 200-day moving average is $11.70. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

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.