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| Top Buys by Top Brass: EVP, CAO and Director Weinstein's $312.5K Bet on NMFCBy Dividend Channel Staff, Wednesday, May 25, 12:09 PM ET
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 $312.5K by Adam Weinstein, EVP, CAO and Director at New Mountain Finance Corporation (NASDAQ:NMFC). Weinstein bets big on NMFC:
Weinstein's average cost works out to $12.50/share. In trading on Wednesday, bargain hunters could buy shares of New Mountain Finance Corporation (NASDAQ:NMFC) and achieve a cost basis lower than Weinstein, with shares changing hands as low as $12.47 per share. Shares of New Mountain Finance Corporation were changing hands at $12.70 at last check, trading up about 1.4% on Wednesday. The chart below shows the one year performance of NMFC shares, versus its 200 day moving average:
Looking at the chart above, NMFC's low point in its 52 week range is $12.26 per share, with $14.11 as the 52 week high point — that compares with a last trade of $12.70. The current annualized dividend paid by New Mountain Finance Corporation is $1.2/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/15/2022. Below is a long-term dividend history chart for NMFC, which can be of good help in judging whether the most recent dividend with approx. 9.6% annualized yield is likely to continue.
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