May 20, 2022, 1:39 p.m. EDT

Friday 5/20 Insider Buying Report: CPNG, NMFC

May 20, 2022 ( via COMTEX) --

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.

At Coupang, a filing with the SEC revealed that on Wednesday, Director Kevin M. Warsh purchased 76,077 shares of CPNG, for a cost of $13.17 each, for a total investment of $1.00M. Coupang is trading off about 3.3% on the day Friday.

And on Monday, Director Steven B. Klinsky purchased $832,426 worth of New Mountain Finance, purchasing 65,200 shares at a cost of $12.77 a piece. New Mountain Finance is trading down about 2.1% on the day Friday.

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