As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Now (NYSE:DNOW), a filing with the SEC revealed that on Tuesday, CEO Robert R. Workman purchased 28,550 shares of DNOW, at a cost of $10.51 each, for a total investment of $300,060. Now is trading down about 2% on the day Thursday. This buy marks the first one filed by Workman in the past twelve months.
And on Monday, COO John Kline purchased $262,774 worth of New Mountain Finance Corp (NYSE:NMFC), purchasing 20,000 shares at a cost of $13.14 a piece. Before this latest buy, Kline bought NMFC on 2 other occasions during the past twelve months, for a total cost of $212,471 at an average of $14.16 per share. New Mountain Finance Corp is trading up about 0.2% on the day Thursday. So far Kline is in the green, up about 0.8% on their buy based on today's trading high of $13.25.
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