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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Piper Jaffray Companies (NYSE:PJC), a filing with the SEC revealed that onThursday, Head, Fixed Income Services Martin Bradley Winges bought 5,269shares of PJC, for a cost of $21.96 each, for a total investment of$115,710. So far Winges is in the green, up about 4.8% on their buy based on today's trading high of $23.02. Piper Jaffray Companies is trading up about 0.1% on the day Tuesday. This buy marks the first one filed by Winges in the past year.
And at Quantum Corp. (NYSE:QTM), there was insider buying on Monday, by SVP,Worldwide Sales Theodore A. Stinson who purchased 30,000 shares for a cost of $2.43 each, for a trade totaling $72,903. Before this latest buy,Stinson made one other buy in the past year, purchasing $58,748 shares at a cost of $2.35 a piece. Quantum Corp. is trading up about 3.3% on the dayTuesday. Stinson was up about 3.7% on the purchase at the high point of today's trading session, with QTM trading as high as $2.52 at last check today.
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