Friday 6/3 Insider Buying Report: NYMT, PBF Friday, June 3, 10:42 AM ET
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 New York Mortgage Trust (NYMT), a filing with the SEC revealed that on Tuesday, President Kevin M. Donlon purchased 203,396 shares of NYMT, at a cost of $5.92 each, for a total investment of $1.20M. So far Donlon is in the green, up about 3.8% on their purchase based on today's trading high of $6.14. New York Mortgage Trust is trading off about 1.2% on the day Friday. Before this latest buy, Donlon bought NYMT on 3 other occasions during the past year, for a total cost of $1.42M at an average of $5.65 per share.
And on Wednesday, President Matthew C. Lucey purchased $275,000 worth of PBF Energy (PBF), purchasing 10,000 shares at a cost of $27.50 a piece. This buy marks the first one filed by Lucey in the past twelve months. PBF Energy is trading off about 1.1% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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