Insiders Were Right: NMFC Makes New 52-Week High

In trading on Thursday, shares of New Mountain Finance Corp (NMFC) touched a new 52-week high of $14.30/share. That's a 31.55% rise, or $3.43 per share from the 52-week low of $10.87 set back on 01/20/2016. That means at today's intraday high, any investor who purchased NMFC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, NMFC has seen 7 different instances of insiders buying over the trailing six month period.

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Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
10/31/2016 Robert Hamwee CEO and Director 25,000 $13.33 $333,311.25
10/31/2016 David Ogens Director 1,600 $13.40 $21,440.00
11/02/2016 John Kline President and COO 4,200 $13.20 $55,440.00
11/03/2016 Adam Weinstein EVP, CAO and Director 3,750 $13.23 $49,630.25
11/03/2016 Steven B. Klinsky Director 214,276 $13.28 $2,846,275.33
11/04/2016 John Kline President and COO 5,440 $13.23 $71,994.80
11/04/2016 Karrie J. Jerry CCO and Corporate Secretary 150 $13.20 $1,980.00
11/07/2016 James Stone Section 16 Officer 1,970 $13.35 $26,295.55
11/07/2016 Steven B. Klinsky Director 155,724 $13.37 $2,082,362.57
11/08/2016 Steven B. Klinsky Director 12,154 $13.47 $163,750.84

The chart below shows where NMFC has traded over the past year, with the 50-day and 200-day moving averages included.

New Mountain Finance Corp Moving Averages Chart

In afternoon trading on Thursday, NMFC shares are changing hands at $14.22/share, slightly below the new 52-week high.

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