After the close, there were several SEC Filings that showed insiders at Level 3 Communications Inc. (NASDAQ: LVLT) bought shares of the company. These buys may sound like a lot for the public, but they are not massive when you consider this is still under $2.00. Either way, it’s always better to see insiders buying their stock rather than selling it. Here are the buys:
- John Reed, Director, bought 29,000 shares at roughly $1.83 on March 11.
- Albert Yates, Director, bought 10,000 shares at $1.84 on March 11.
- Douglas Eby, Director, bought 250,000 shares at prices from $1.91 to $1.96 on March 11.
Level 3 Communications is one we have had under review for our weekly "10 Stocks Under $10" letter and we will wait to see if more insiders line up to buy before we take off our prior negative bias. There may be more filings that show insider buying and selling than these three so stay tuned.
Jon C. Ogg
March 13, 2008