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 Blackstone, a filing with the SEC revealed that on Wednesday, Director James Breyer purchased 9,326 shares of BX, at a cost of $107.21 each, for a total investment of $999,885. Breyer was up about 7.2% on the buy at the high point of today's trading session, with BX trading as high as $114.90 at last check today. Blackstone Inc is trading up about 3.3% on the day Thursday.
And on Tuesday, Director Nassem Ziyad purchased $276,414 worth of Middleby, purchasing 2,035 shares at a cost of $135.83 each. Middleby is trading up about 2.8% on the day Thursday. Ziyad was up about 6.3% on the purchase at the high point of today's trading session, with MIDD trading as high as $144.42 at last check today.
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