Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. New Mountain Finance Corp shares valued at $76,158 were purchased by Corbett Kris on Aug 05 ’24. At $11.72 per share, Corbett Kris acquired 6,500 shares. The insider’s holdings grew to 6,500 shares worth approximately $75725.0 following the completion of this transaction.
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Also, Ogens David purchased 3,500 shares, netting a total of over 44,170 in proceeds. Following the buying of shares at $12.62 each, the insider now holds 166,391 shares.
Before that, Kline John had sold 1,238 shares from its account. In a trade valued at $15,541, the CEO, President, and Director traded New Mountain Finance Corp shares for $12.55 each. Upon closing the transaction, the insider’s holdings decreased to 1,238 shares, worth approximately $2.97 million.
As published in a research note from Wells Fargo on April 18, 2023, New Mountain Finance Corp [NMFC] has been rated down from an Overweight to an Equal weight and the price target has been revised to $11 from $13. Analysts at B. Riley Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid October. As of February 07, 2022, Janney has initiated its “Buy” rating for NMFC. Earlier on March 05, 2021, Hovde Group initiated its rating. Their recommendation was “a Market perform” for NMFC stock.
Analyzing NMFC Stock Performance
During the last five days, there has been a drop of approximately -1.44%. Over the course of the year, New Mountain Finance Corp shares have dropped approximately -7.83%. Shares of the company reached a 52-week high of $13.10 on 01/24/24 and a 52-week low of $11.60 on 08/05/24. A 50-day SMA is recorded $12.09, while a 200-day SMA reached $12.47.
Support And Resistance Levels for New Mountain Finance Corp (NMFC)
According to the 24-hour chart, there is a support level at 11.62, which, if violated, would cause prices to drop to 11.59. In the upper region, resistance lies at 11.70. The next price resistance is at 11.76. RSI (Relative Strength Index) is 30.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 98.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
