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.
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.
