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Weekly CEO Buys Highlight: Piper Jaffray Companies

July 26, 2010 | About:
Last week's top CEO buy company was Piper Jaffray Companies. According to GuruFocus Insider Data, this company had the largest CEO buys during the past week.

Piper Jaffray Companies (PJC): Chairman and CEO Andrew S Duff Bought 5,000 Shares

Chairman and CEO of Piper Jaffray Companies (PJC) Andrew S Duff bought 5,000 shares on 07/22/2010 at an average price of $31.64. Piper Jaffray Companies is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. Piper Jaffray Companies has a market cap of $656.8 million; its shares were traded at around $31.64 with a P/E ratio of 18.2 and P/S ratio of 1.4.

PJC recently announced net income of $7.4 million, or $0.36 per diluted common share, for the second quarter ended June 30, 2010, compared to net income of $11.6 million, or $0.59 per diluted common share, for the second quarter of 2009 and net income of $0.5 million, or $0.03 per diluted common share, for the first quarter of 2010. Second quarter 2010 net revenues were $127.7 million, compared to $132.3 million in the year-ago period, and $109.6 million for the first quarter of 2010.

John Keeley owns 560,000 shares as of 03/31/2010, which accounts for 0.34% of the $6.62 billion portfolio of Keeley Fund Management.

Buy: Chief Administrative Officer Ronald T Firebaugh bought 3,500 shares of PJC stock on 07/23/2010 at the average price of 28.09. Ronald T Firebaugh owns at least 40,991 shares after this. The price of the stock has increased by 12.64% since. There are mixed trades from other insiders.

For the complete list of stocks that bought by their company CEOs, go to: CEO Buys.

About the author:

Jonathan holds an MBA from the Richard Ivey School of Business at the University of Western Ontario where he studied value investing with Dr. George Athanassakos (Ben Graham Chair in Value Investing). Jonathan has a passion for finance and investing that radiates from the writings on this site. Visit his blog.

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