Strategic Financial Concepts LLC Buys Shares of 18,488 New Mountain Finance Co. (NASDAQ:NMFC)

Strategic Financial Concepts LLC bought a new stake in shares of New Mountain Finance Co. (NASDAQ:NMFC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,488 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also made changes to their positions in the company. Inspire Investing LLC increased its holdings in shares of New Mountain Finance by 3.5% in the fourth quarter. Inspire Investing LLC now owns 35,455 shares of the company’s stock valued at $399,000 after purchasing an additional 1,188 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of 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 during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of New Mountain Finance in the third quarter valued at approximately $26,000. Lindbrook Capital LLC increased its holdings in shares of New Mountain Finance by 0.7% in the third quarter. Lindbrook Capital LLC now owns 325,365 shares of the company’s stock valued at $3,898,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of 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 purchasing an additional 2,389 shares during the last quarter. Institutional investors and hedge funds own 32.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price target on 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 other New Mountain Finance news, Director Steven B. Klinsky acquired 6,200 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $11.75 per share, for a total transaction of $72,850.00. Following the completion of the transaction, the director now owns 4,122,655 shares of the company’s stock, valued at approximately $48,441,196.25. The trade was a 0.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders acquired 97,504 shares of company stock worth $1,111,510. Company insiders own 10.22% of the company’s stock.

New Mountain Finance Trading Up 0.1 %

Shares of New Mountain Finance stock opened at $11.98 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.41 and a beta of 1.15. New Mountain Finance Co. has a fifty-two week low of $10.61 and a fifty-two week high of $13.01. 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 stock has a 50 day moving average of $11.43 and a 200 day moving average of $11.69.

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.