Friday 8/16 Insider Buying Report: BSM, ET
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 Black Stone Minerals, a filing with the SEC revealed that on Thursday, Director D. Mark Dewalch purchased 34,200 shares of BSM, at a cost of $14.62 each, for a total investment of $500,004. Black Stone Minerals is trading up about 0.8% on the day Friday. Before this latest buy, Dewalch purchased BSM at 2 other times during the past year, for a total cost of $812,229 at an average of $17.19 per share.
And at Energy Transfer, there was insider buying on Monday, by Co-CEO Thomas E. Long who bought 20,000 shares for a cost of $15.68 each, for a trade totaling $313,600. Energy Transfer is trading up about 1.2% on the day Friday. Long was up about 3.3% on the buy at the high point of today's trading session, with ET trading as high as $16.19 at last check today.
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