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Tuesday 3/26 Insider Buying Report: ECHO, PFLT
Tuesday, March 26, 3:20 PM ET

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.

On Friday, Echo Global Logistics Inc (NASDAQ:ECHO)'s Director, John R. Walter, made a $695,217 buy of ECHO, purchasing 33,321 shares at a cost of $20.86 a piece. Walter was up about 6.6% on the buy at the high point of today's trading session, with ECHO trading as high as $22.25 at last check today. Echo Global Logistics Inc is trading off about 0.1% on the day Tuesday. Before this latest buy, Walter purchased ECHO on 2 other occasions during the past year, for a total investment of $1.54M at an average of $19.10 per share.

And on Thursday, Director Samuel L. Katz bought $420,000 worth of Pennantpark Floating Rate Capital (NASDAQ:PFLT), buying 30,000 shares at a cost of $14.00 each. This purchase marks the first one filed by Katz in the past year. Pennantpark Floating Rate Capital is trading off about 1.1% on the day Tuesday. Investors have the opportunity to snag PFLT at a price even lower than Katz did, with the stock changing hands as low as $13.81 in trading on Tuesday which is 1.4% below Katz's purchase price.

For MarketNewsVideo.com, I'm Kristin Bianco.

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Tuesday 3/26 Insider Buying Report: ECHO, PFLT | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

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