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.
On Tuesday, Gaming & Leisure Properties ( GLPI )'s Director, David A. Handler, made a $988,650 purchase of GLPI, buying 39,000 shares at a cost of $25.35 a piece. Gaming & Leisure Properties is trading up about 0.1% on the day Thursday. Before this latest buy, Handler made one other buy in the past year, purchasing $314,000 shares at a cost of $31.40 a piece.
And at Blackstone Mortgage Trust ( BXMT ), there was insider buying on Tuesday, by Director Michael B. Nash who bought 40,000 shares at a cost of $24.19 each, for a trade totaling $967,600. Before this latest buy, Nash made one other buy in the past twelve months, purchasing $2.00M shares at a cost of $30.50 a piece. Blackstone Mortgage Trust is trading up about 2.3% on the day Thursday. Nash was up about 8.0% on the buy at the high point of today's trading session, with BXMT trading as high as $26.12 at last check today.
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