Insiders Now Seeing Red With QTS At New 52-Week Low
Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as QTS shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, QTS has seen 2 different instances of insiders buying over the past six months.
|10/15/2013||Chad L. Williams||Chairman and CEO||47,619||$21.00||$999,999.00|
|10/15/2013||Philip P. Trahanas||Director||2,000,000||$21.00||$42,000,000.00|
|10/15/2013||Qts Interholdco, Llc GA||2,000,000||$21.00||$42,000,000.00|
In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where QTS has traded over the past year, with the 50-day and 200-day moving averages included.