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Friday 6/3 Insider Buying Report: NYMT, PBF

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As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.

At New York Mortgage Trust ( NYMT ), a filing with the SEC revealed that on Tuesday, President Kevin M. Donlon purchased 203,396 shares of NYMT, at a cost of $5.92 each, for a total investment of $1.20M. So far Donlon is in the green, up about 3.8% on their purchase based on today's trading high of $6.14. New York Mortgage Trust is trading off about 1.2% on the day Friday. Before this latest buy, Donlon bought NYMT on 3 other occasions during the past year, for a total cost of $1.42M at an average of $5.65 per share.

And on Wednesday, President Matthew C. Lucey purchased $275,000 worth of PBF Energy ( PBF ), purchasing 10,000 shares at a cost of $27.50 a piece. This buy marks the first one filed by Lucey in the past twelve months. PBF Energy is trading off about 1.1% on the day Friday.

VIDEO: Friday 6/3 Insider Buying Report: NYMT, PBF

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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