Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, New Mountain Finance (NASDAQ:NMFC)'s Director, Steven B. Klinsky, made a $2.9M buy of NMFC, purchasing 222,313 shares at a cost of $13.03 a piece. Investors can bag NMFC at a price even lower than Klinsky did, with shares changing hands as low as $12.69 in trading on Monday which is 2.6% under Klinsky's purchase price. New Mountain Finance Corp is trading off about 0.4% on the day Monday. Before this latest buy, Klinsky bought NMFC on 2 other occasions during the past twelve months, for a total cost of $13.88M at an average of $13.88 per share.
And at Ascena Retail Group (ASNA), there was insider buying on Friday, by Chairman Elliot S. Jaffe who purchased 100,000 shares for a cost of $9.70 each, for a trade totaling $969,659. This purchase marks the first one filed by Jaffe in the past year. Ascena Retail Group is trading down about 1.5% on the day Monday. Jaffe was up about 5.6% on the purchase at the high point of today's trading session, with ASNA trading as high as $10.24 at last check today.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.