New Mountain Finance Corporation
US ˙ NasdaqGS ˙ US6475511001

Introduction

This page provides a comprehensive analysis of the known insider trading history of David Malpass. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders
Companies with Reported Insider Positions

The SEC filings indicate David Malpass has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:NMFC / New Mountain Finance Corporation Director 0
Director 0
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by David Malpass. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases NMFC / New Mountain Finance Corporation - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in NMFC / New Mountain Finance Corporation. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2015-12-14 NMFC Malpass David 5,000 12.5701 5,000 12.5701 62,850 360 14.3 8,650 13.76
2015-12-14 NMFC Malpass David 5,000 12.9159 5,000 12.9159 64,580
2015-12-14 NMFC Malpass David 5,000 12.9309 5,000 12.9309 64,654
2015-12-14 NMFC Malpass David 5,000 12.8840 5,000 12.8840 64,420
2015-12-14 NMFC Malpass David 10,000 12.1722 10,000 12.1722 121,722
2015-09-29 NMFC Malpass David 5,000 13.5100 5,000 13.5100 67,550
2015-09-28 NMFC Malpass David 30,000 13.3600 30,000 13.3600 400,800
2015-03-13 NMFC Malpass David 5,000 14.2500 5,000 14.2500 71,250
2015-03-09 NMFC Malpass David 1,500 14.4500 1,500 14.4500 21,675
2015-03-09 NMFC Malpass David 3,500 14.4400 3,500 14.4400 50,540
2014-12-08 NMFC Malpass David 7,700 14.7000 7,700 14.7000 113,190
2014-09-16 NMFC Malpass David 5,000 14.8300 5,000 14.8300 74,150
2014-04-16 NMFC Malpass David 1,200 14.2600 1,200 14.2600 17,112
2014-04-16 NMFC Malpass David 8,800 14.2500 8,800 14.2500 125,400
2013-05-22 NMFC Malpass David 600 15.2800 600 15.2800 9,168
2013-05-22 NMFC Malpass David 600 15.2860 600 15.2860 9,172
2013-05-21 NMFC Malpass David 1,600 15.2100 1,600 15.2100 24,336
2012-12-13 NMFC Malpass David 3,500 14.2300 3,500 14.2300 49,805
2012-12-13 NMFC Malpass David 3,000 14.2100 3,000 14.2100 42,630
2012-12-12 NMFC Malpass David 4,500 14.2700 4,500 14.2700 64,215
2012-11-12 NMFC Malpass David 890 14.2700 890 14.2700 12,700
2012-11-09 NMFC Malpass David 2,393 14.3500 2,393 14.3500 34,340
2012-11-09 NMFC Malpass David 607 14.1500 607 14.1500 8,589
2012-11-09 NMFC Malpass David 3,500 14.4200 3,500 14.4200 50,470
2012-08-21 NMFC Malpass David 5,500 14.4200 5,500 14.4200 79,310
2012-08-21 NMFC Malpass David 750 14.3400 750 14.3400 10,755
2012-08-20 NMFC Malpass David 5,000 14.4400 5,000 14.4400 72,200
2012-08-20 NMFC Malpass David 5,000 14.4800 5,000 14.4800 72,400

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

NMFC / New Mountain Finance Corporation Insider Trades
Insider Sales NMFC / New Mountain Finance Corporation - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in NMFC / New Mountain Finance Corporation. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2017-03-15 NMFC Malpass David 10,000 14.6500 10,000 14.6500 146,500 331 12.55 -21,000 -14.33
2017-03-15 NMFC Malpass David 35,000 14.7100 35,000 14.7100 514,850
2017-03-15 NMFC Malpass David 1,411 14.7200 1,411 14.7200 20,770
2017-03-15 NMFC Malpass David 20,000 14.7600 20,000 14.7600 295,200
2017-03-04 NMFC Malpass David 10,000 14.8000 10,000 14.8000 148,000
2017-03-04 NMFC Malpass David 1,500 14.8200 1,500 14.8200 22,230
2016-08-16 NMFC Malpass David 25,513 13.9100 25,513 13.9100 354,886
2016-08-15 NMFC Malpass David 59,487 14.0400 59,487 14.0400 835,197

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

NMFC / New Mountain Finance Corporation Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by David Malpass as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2017-03-16 2017-03-15 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -20,000 0 -100.00 14.76 -295,200
2017-03-16 2017-03-15 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -1,411 20,000 -6.59 14.72 -20,770 294,400
2017-03-16 2017-03-15 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -35,000 21,411 -62.04 14.71 -514,850 314,956
2017-03-16 2017-03-15 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -10,000 56,411 -15.06 14.65 -146,500 826,421
2017-03-07 2017-03-04 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -1,500 0 -100.00 14.82 -22,230
2017-03-07 2017-03-04 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -10,000 66,411 -13.09 14.80 -148,000 982,883
2016-08-17 2016-08-16 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -25,513 76,411 -25.03 13.91 -354,886 1,062,877
2016-08-17 2016-08-15 4 NMFC New Mountain Finance Corp
Common Stock 		S - Sale -59,487 101,924 -36.85 14.04 -835,197 1,431,013
2015-12-15 2015-12-14 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 10,000 161,411 6.60 12.17 121,722 1,964,727
2015-12-15 2015-12-14 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 151,411 3.42 12.88 64,420 1,950,779
2015-12-15 2015-12-14 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 146,411 3.54 12.93 64,654 1,893,226
2015-12-15 2015-12-14 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 141,411 3.67 12.92 64,580 1,826,450
2015-12-15 2015-12-14 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 136,411 3.80 12.57 62,850 1,714,700
2015-09-30 2015-09-29 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 131,411 3.96 13.51 67,550 1,775,363
2015-09-30 2015-09-28 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 30,000 126,411 31.12 13.36 400,800 1,688,851
2015-03-16 2015-03-13 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 96,411 5.47 14.25 71,250 1,373,857
2015-03-11 2015-03-09 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 3,500 91,411 3.98 14.44 50,540 1,319,975
2015-03-11 2015-03-09 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 1,500 87,911 1.74 14.45 21,675 1,270,314
2014-12-10 2014-12-08 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 7,700 86,411 9.78 14.70 113,190 1,270,242
2014-09-17 2014-09-16 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 78,711 6.78 14.83 74,150 1,167,284
2014-05-29 3 GHI GLOBAL HIGH INCOME FUND INC
common shares 		0
2014-04-18 2014-04-16 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 8,800 73,711 13.56 14.25 125,400 1,050,382
2014-04-18 2014-04-16 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 1,200 64,911 1.88 14.26 17,112 925,631
2013-05-22 2013-05-22 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 600 63,711 0.95 15.29 9,172 973,886
2013-05-22 2013-05-22 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 600 63,111 0.96 15.28 9,168 964,336
2013-05-22 2013-05-21 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 1,600 62,511 2.63 15.21 24,336 950,792
2012-12-14 2012-12-13 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 3,000 60,911 5.18 14.21 42,630 865,545
2012-12-14 2012-12-13 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 3,500 57,911 6.43 14.23 49,805 824,074
2012-12-14 2012-12-12 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 4,500 54,411 9.02 14.27 64,215 776,445
2012-11-13 2012-11-12 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 890 23,340 3.96 14.27 12,700 333,062
2012-11-13 2012-11-09 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 3,500 26,571 15.17 14.42 50,470 383,154
2012-11-13 2012-11-09 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 607 23,071 2.70 14.15 8,589 326,455
2012-11-13 2012-11-09 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 2,393 22,464 11.92 14.35 34,340 322,358
2012-08-21 2012-08-21 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 750 20,071 3.88 14.34 10,755 287,818
2012-08-21 2012-08-21 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,500 22,450 32.45 14.42 79,310 323,729
2012-08-21 2012-08-20 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 16,950 41.84 14.48 72,400 245,436
2012-08-21 2012-08-20 4 NMFC New Mountain Finance Corp
Common Stock 		P - Purchase 5,000 11,950 71.94 14.44 72,200 172,558
2012-08-09 3 NMFC New Mountain Finance Corp
Common Stock 		19,321
2012-08-09 3 NMFC New Mountain Finance Corp
Common Stock 		6,950
2012-08-09 3 NMFC New Mountain Finance Corp
Common Stock 		1,500
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)