Monday 2/24 Insider Buying Report: MITK, BST
Monday, February 24, 10:46 AM ET

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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.

At Mitek Systems, a filing with the SEC revealed that on Thursday, Chief Executive Officer Edward H. West bought 55,000 shares of MITK, for a cost of $9.21 each, for a total investment of $506,407. West was up about 6.4% on the buy at the high point of today's trading session, with MITK trading as high as $9.79 at last check today. Mitek Systems is trading up about 3.4% on the day Monday. This purchase marks the first one filed by West in the past year.

And also on Thursday, Tony Kim purchased $398,038 worth of Blackrock Science and Technology Trust, purchasing 10,264 shares at a cost of $38.78 each. Before this latest buy, Kim made one other purchase in the past twelve months, buying $931,387 shares at a cost of $38.81 a piece. Blackrock Science and Technology Trust is trading up about 0.3% on the day Monday. Bargain hunters can buy BST at a price even lower than Kim did, with shares trading as low as $38.05 at last check today which is 1.9% below Kim's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.