The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $391.7K invested across 2 purchases by Robert Hamwee, CEO at New Mountain Finance Corp (NMFC).Hamwee bets big on NMFC:
|03/07/2014||Robert Hamwee||CEO, President and Director||12,000||$14.75||$176,984.40|
|04/28/2014||Robert Hamwee||CEO, President and Director||15,000||$14.31||$214,692.00|
Looking at the chart above, NMFC's low point in its 52 week range is $13.86 per share, with $15.31 as the 52 week high point — that compares with a last trade of $15.02. The current annualized dividend paid by New Mountain Finance Corp is $1.36/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 09/12/2014. Below is a long-term dividend history chart for NMFC, which can be of good help in judging whether the most recent dividend with approx. 9.0% annualized yield is likely to continue. According to the ETF Finder at ETF Channel, NMFC makes up 3.83% of the BDC Income ETF ( BIZD) which is trading up by about 0.2% on the day Monday.