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 Friday, Blackstone Mortgage Trust (NYSE:BXMT)'s Director, John Schreiber, made a $3.05M buy of BXMT, purchasing 100,000 shares at a cost of $30.50 a piece. Schreiber was up about 2.8% on the purchase at the high point of today's trading session, with BXMT trading as high as $31.35 in trading on Tuesday. Blackstone Mortgage Trust is trading up about 0.6% on the day Tuesday.
And at Willbros Group (WG), there was insider buying on Thursday, by Chief Executive Officer John T. McNabb who bought 35,000 shares at a cost of $2.83 each, for a trade totaling $99,008. This purchase marks the first one filed by McNabb in the past year. Willbros Group is trading up about 6.1% on the day Tuesday. Bargain hunters have the opportunity to snag WG at a price even lower than McNabb did, with shares changing hands as low as $2.71 in trading on Tuesday -- that's 4.2% below McNabb's purchase price.
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