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 ( 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 ( 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.
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.
