Friday 6/24 Insider Buying Report: BXMT, AMWD
Friday, June 24, 4:10 PM 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Blackstone Mortgage Trust, a filing with the SEC revealed that on Tuesday, Director Leonard W. Cotton bought 5,000 shares of BXMT, for a cost of $27.78 each, for a total investment of $138,922. So far Cotton is in the green, up about 6.5% on their buy based on today's trading high of $29.60. Blackstone Mortgage Trust Inc is trading up about 2.7% on the day Friday. This purchase marks the first one filed by Cotton in the past twelve months.

And on Wednesday, CEO Michael Scott Culbreth bought $82,261 worth of American Woodmark, buying 2,000 shares at a cost of $41.13 each. Before this latest buy, Culbreth bought AMWD on 2 other occasions during the past year, for a total investment of $223,623 at an average of $55.91 per share. American Woodmark is trading up about 7.7% on the day Friday. So far Culbreth is in the green, up about 14.7% on their purchase based on today's trading high of $47.19.