Top Buys by Top Brass: CEO and Director Hamwee's $333.3K Bet on NMFC

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company 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 the ''top brass'' over the trailing six month period, one of which was a total of $333.3K by Robert Hamwee, CEO and Director at New Mountain Finance Corp ( NMFC).

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

Hamwee bets big on NMFC:
Purchased Insider Title Shares Price/Share Value
10/31/2016 Robert Hamwee CEO and Director 25,000 $13.33 $333,311.25

Hamwee's average cost works out to $13.33/share. In trading on Thursday, bargain hunters could buy shares of New Mountain Finance Corp ( NMFC) and achieve a cost basis lower than Hamwee, with shares changing hands as low as $13.10 per share. Shares of New Mountain Finance Corp were changing hands at $13.22 at last check, trading off about 1.7% on Thursday. The chart below shows the one year performance of NMFC shares, versus its 200 day moving average:

New Mountain Finance Corp Chart

Looking at the chart above, NMFC's low point in its 52 week range is $10.87 per share, with $14.30 as the 52 week high point — that compares with a last trade of $13.22.

If you liked this article you might like

Avantor Purchases Lab Supply Co. VWR

3 Buy-Rated Dividend Stocks To Check Out: MRCC, HCAP, NMFC

Best 3 Yielding Buy-Rated Stocks: CHSP, TR, NMFC

What To Hold: 3 Hold-Rated Dividend Stocks OXBR, NMFC, AHT

3 Hold-Rated Dividend Stocks: NRT, GARS, NMFC