Allspring Global Investments Holdings LLC Reduces Stock Holdings in New Mountain Finance Co. (NASDAQ:NMFC)

Allspring Global Investments Holdings LLC lowered its position in New Mountain Finance Co. (NASDAQ:NMFC) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,884,556 shares of the company’s stock after selling 182,865 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.67% of New Mountain Finance worth $32,711,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Essex Financial Services Inc. increased its position in shares of New Mountain Finance by 33.6% in the fourth quarter. Essex Financial Services Inc. now owns 19,017 shares of the company’s stock valued at $214,000 after buying an additional 4,783 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in New Mountain Finance during the 4th quarter worth about $208,000. EMC Capital Management increased its position in New Mountain Finance by 130.6% during the 4th quarter. EMC Capital Management now owns 18,470 shares of the company’s stock worth $208,000 after purchasing an additional 10,462 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in New Mountain Finance during the 4th quarter worth about $309,000. Finally, Inspire Investing LLC increased its position in New Mountain Finance by 3.5% during the 4th quarter. Inspire Investing LLC now owns 35,455 shares of the company’s stock worth $399,000 after purchasing an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Up 0.4 %

NMFC opened at $11.93 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.36 and a beta of 1.15. The business has a 50-day moving average of $11.42 and a two-hundred day moving average of $11.70. New Mountain Finance Co. has a 12 month low of $10.61 and a 12 month high of $13.01.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at New Mountain Finance

In other New Mountain Finance news, Director Steven B. Klinsky purchased 2,400 shares of the stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $11.74 per share, for a total transaction of $28,176.00. Following the acquisition, the director now directly owns 4,118,522 shares of the company’s stock, valued at $48,351,448.28. This represents a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders acquired 132,371 shares of company stock worth $1,512,829 in the last 90 days. 10.22% of the stock is owned by company insiders.

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.