Janney Montgomery Scott LLC Trims Stock Position in New Mountain Finance Co. (NASDAQ:NMFC)

Janney Montgomery Scott LLC cut its holdings in New Mountain Finance Co. (NASDAQ:NMFC) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,172 shares of the company’s stock after selling 15,768 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.11% of New Mountain Finance worth $1,387,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of New Mountain Finance by 1,017.3% during the third quarter. International Assets Investment Management LLC now owns 374,487 shares of the company’s stock valued at $4,486,000 after acquiring an additional 340,969 shares during the last quarter. HighTower Advisors LLC lifted its holdings in New Mountain Finance by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 3,376,702 shares of the company’s stock valued at $40,438,000 after purchasing an additional 237,594 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of New Mountain Finance during the 3rd quarter worth about $2,608,000. Van ECK Associates Corp grew its holdings in shares of New Mountain Finance by 8.1% during the third quarter. Van ECK Associates Corp now owns 2,249,321 shares of the company’s stock worth $25,980,000 after buying an additional 168,719 shares in the last quarter. Finally, Rockingstone Advisors LLC raised its position in shares of New Mountain Finance by 79.1% in the fourth quarter. Rockingstone Advisors LLC now owns 282,107 shares of the company’s stock valued at $3,177,000 after buying an additional 124,599 shares during the last quarter. Hedge funds and other institutional investors own 32.08% of the company’s stock.

New Mountain Finance Stock Performance

New Mountain Finance stock opened at $11.70 on Tuesday. The stock has a fifty day moving average price of $11.44 and a 200 day moving average price of $11.73. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. New Mountain Finance Co. has a 52 week low of $10.61 and a 52 week high of $13.01. The firm has a market capitalization of $1.26 billion, a P/E ratio of 11.14 and a beta of 1.15.

Insiders Place Their Bets

In other news, CEO John Kline acquired 41,550 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of $10.92 per share, for a total transaction of $453,726.00. Following the completion of the purchase, the chief executive officer now directly owns 351,783 shares of the company’s stock, valued at approximately $3,841,470.36. This trade represents a 13.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven B. Klinsky bought 150,609 shares of the stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,637,119.83. Following the completion of the purchase, the director now directly owns 3,632,326 shares of the company’s stock, valued at approximately $39,483,383.62. This represents a 4.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 324,530 shares of company stock worth $3,603,675 over the last three months. 10.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.