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Tuesday 9/29 Insider Buying Report: PXD, NMFC

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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Pioneer Natural Resources ( PXD ), a filing with the SEC revealed that on Thursday, CFO Richard P. Dealy purchased 117,786 shares of PXD, for a cost of $119.85 each, for a total investment of $14.12M. Pioneer Natural Resources is trading up about 2.4% on the day Tuesday.

And at New Mountain Finance ( NMFC ), there was insider buying on Friday, by Director Steven B. Klinsky who purchased 500,000 shares at a cost of $14.14 each, for a total investment of $7.07M. Before this latest buy, Klinsky made one other purchase in the past year, buying $2M shares at a cost of $14.82 a piece. New Mountain Finance is trading up about 2.8% on the day Tuesday. Investors have the opportunity to buy NMFC even cheaper than Klinsky did, with shares trading as low as $13.26 in trading on Tuesday -- that's 6.2% under Klinsky's purchase price.

VIDEO: Tuesday 9/29 Insider Buying Report: PXD, NMFC

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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