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Monday 12/21 Insider Buying Report: NMFC, ASNA

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 ( 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.

VIDEO: Monday 12/21 Insider Buying Report: NMFC, ASNA

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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