GraniteShares Advisors LLC Has $2.46 Million Position in New Mountain Finance Co. (NASDAQ:NMFC)

GraniteShares Advisors LLC grew its position in New Mountain Finance Co. (NASDAQ:NMFC) by 21.6% during the 4th quarter, Holdings Channel reports. The firm owned 218,414 shares of the company’s stock after purchasing an additional 38,786 shares during the quarter. GraniteShares Advisors LLC’s holdings in New Mountain Finance were worth $2,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of New Mountain Finance by 2.7% in the 3rd quarter. Cerity Partners LLC now owns 3,823,925 shares of the company’s stock valued at $45,811,000 after purchasing an additional 100,315 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of 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. Van ECK Associates Corp boosted its stake in shares of New Mountain Finance by 4.1% in the 4th quarter. Van ECK Associates Corp now owns 2,342,650 shares of the company’s stock valued at $26,378,000 after purchasing an additional 93,329 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of New Mountain Finance by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,842 shares of the company’s stock valued at $15,081,000 after purchasing an additional 15,988 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake 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 in 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 reduced their price target 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.

Insiders Place Their Bets

In other news, Director Steven B. Klinsky acquired 6,200 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $11.75 per share, with a total value of $72,850.00. Following the acquisition, the director now owns 4,122,655 shares of the company’s stock, valued at $48,441,196.25. This trade represents a 0.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 95,104 shares of company stock valued at $1,083,334. 10.34% of the stock is currently owned by insiders.

New Mountain Finance Stock Performance

Shares of NASDAQ:NMFC opened at $11.96 on Wednesday. The stock has a market capitalization of $1.29 billion, a P/E ratio of 11.39 and a beta of 1.15. New Mountain Finance Co. has a 1-year low of $10.61 and a 1-year high of $13.01. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $11.45 and a two-hundred day moving average price of $11.68.

New Mountain Finance 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.