Wednesday 6/22 Insider Buying Report: OKE, BLFY
Wednesday, June 22, 10:36 AM ET

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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.

On Friday, ONEOK's CEO, Pierce Norton, made a $498,462 buy of OKE, purchasing 8,975 shares at a cost of $55.54 each. Investors can bag OKE at a price even lower than Norton did, with the stock changing hands as low as $52.72 at last check today -- that's 5.1% under Norton's purchase price. ONEOK is trading down about 3.9% on the day Wednesday. This purchase marks the first one filed by Norton in the past year.

And also on Friday, Director Kenneth Grimbilas purchased $200,485 worth of Blue Foundry Bancorp, purchasing 17,065 shares at a cost of $11.75 a piece. This purchase marks the first one filed by Grimbilas in the past twelve months. Blue Foundry Bancorp is trading off about 0.3% on the day Wednesday. Grimbilas was up about 3.2% on the buy at the high point of today's trading session, with BLFY trading as high as $12.12 at last check today.

For MarketNewsVideo.com, I'm Sayoko Murase.