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 QTS Realty Trust (NYSE:QTS), a filing with the SEC revealed that on Tuesday, Chief Executive Officer Chad L. Williams bought 62,757 shares of QTS, at a cost of $34.86 each, for a total investment of $2.19M. So far Williams is in the green, up about 4.0% on their buy based on today's trading high of $36.25. QTS Realty Trust is trading off about 0.6% on the day Thursday. This purchase marks the first one filed by Williams in the past twelve months.
And at Global Eagle Entertainment (NASDAQ:ENT), there was insider buying on Tuesday, by Director Eric Louis Zinterhofer who bought 1,078,594 shares for a cost of $1.81 each, for a trade totaling $1.95M. Before this latest buy, Zinterhofer made one other purchase in the past year, buying $683,003 shares at a cost of $1.20 each. Global Eagle Entertainment is trading down about 1.9% on the day Thursday. Zinterhofer was up about 19.0% on the buy at the high point of today's trading session, with ENT trading as high as $2.15 at last check today.
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