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Weekly CEO Buys Highlight: Boston Private Financial, Argo Group, Fifth Street Finance, PharMerica Corp, Akamai Technologies Inc.

August 14, 2010 | About:
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Last week’s top five stocks that were bought by their CEOs were Boston Private Financial Holdings Inc, ARGO GROUP INTERNATIONAL HOLDINGS LTD, FIFTH STREET FINANCE, PharMerica Corp, and Akamai Technologies Inc. According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Boston Private Financial Holdings Inc. (BPFH): CEO and President Clayton Deutsch Bought 273,501 Shares

CEO and President of Boston Private Financial Holdings Inc. (BPFH) Clayton Deutsch bought 273,501 shares on 08/10/2010 at an average price of $6.2. Boston Private Bancorp, through its subsidiaries offers a full range of banking, commercial and residential lending, and trust and investment management services to its domestic and international clientele with a commitment to exceptional service. Boston Private Financial Holdings Inc. has a market cap of $460.1 million; its shares were traded at around $6.2 with and P/S ratio of 1.7. The dividend yield of Boston Private Financial Holdings Inc. stocks is 0.6%.

BPFH recently reported net income attributable to the Company of $1.1 million, compared to $5.1 million in the first quarter of 2010. After accounting for non-cash equity adjustments and preferred dividends, the Company reported a second quarter 2010 GAAP loss per share of ($0.07) compared to earnings per share of $0.02 in the first quarter of 2010.

Kenneth Fisher owns 1,351,863 shares as of 06/30/2010, which accounts for 0.03% of the $28.08 billion portfolio of Fisher Asset Management, LLC.Arnold Schneider sold out his holdings in the quarter that ended on 03/31/2010.

Buy: Director Allen L Sinai bought 500 shares of BPFH stock on 08/06/2010 at the average price of 6.44. Allen L Sinai owns at least 25,938 shares after this. The price of the stock has decreased by 3.73% since. Other insiders have also increased their positions in the company.

ARGO GROUP INTERNATIONAL HOLDINGS LTD. (AGII): President and CEO Mark E Watson Iii Bought 54,170 Shares

President and CEO of ARGO GROUP INTERNATIONAL HOLDINGS LTD. (AGII) Mark E Watson Iii bought 54,170 shares on 08/13/2010 at an average price of $28.9. PXRE Group Ltd. provides reinsurance products and services to aworldwide marketplace. Argo Group International Holdings Ltd. has a market cap of $897.4 million; its shares were traded at around $28.9 with a P/E ratio of 10.7 and P/S ratio of 0.6. The dividend yield of Argo Group International Holdings Ltd. stocks is 1.5%.

Argo Group recently reported its second quarter 2010 results. Total revenue was $362.4 million versus $403.8 million in the second quarter of 2009. Net income was $26.1 million or $0.86 per diluted share, compared to $21.9 million or $0.71 per diluted share for the three months ended June 30, 2009.

Charles Brandes owns 308,631 shares as of 03/31/2010, an increase of 43.51% from the previous quarter. This position accounts for 0.05% of the $15.29 billion portfolio of Brandes Investment. Richard Pzena owns 797,403 shares as of 03/31/2010, an increase of 43.03% from the previous quarter. This position accounts for 0.23% of the $11.42 billion portfolio of Pzena Investment Management LLC. David Dreman owns 1,098,585 shares as of 03/31/2010, which accounts for 0.84% of the $4.24 billion portfolio of Dreman Value Management.

Buy: Director F Sedgwick Browne bought 1,000 shares of AGII stock on 03/12/2010 at the average price of 30.49. F Sedgwick Browne owns at least 2,732 shares after this. The price of the stock has decreased by 5.21% since.

FIFTH STREET FINANCE (FSC): CEO Leonard M Tannenbaum Bought 70,133 Shares

CEO of FIFTH STREET FINANCE (FSC) Leonard M Tannenbaum bought 70,133 shares during the past week at an average price of $10.04. FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance has a market cap of $534.9 million; its shares were traded at around $10.04 with a P/E ratio of 10.1 and P/S ratio of 10.8. The dividend yield of Fifth Street Finance stocks is 12.7%.

Fifth Street Finance recently reported its second quarter 2010 results. Net investment income for the quarter ended June 30, 2010 was $12.0 million or $0.26 per share, as compared to $7.9 million or $0.35 per share for the quarter ended June 30, 2009. "While I am disappointed in our inability to put our cash to work quickly, I continue to be optimistic about our origination pipeline as we are seeing the early stages of the increase in M&A activity we expected this year. I am also very pleased with the work of our underwriting team led by Chad Blakeman and Ivelin Dimitrov," stated Fifth Street's Chief Executive Officer, Leonard M. Tannenbaum.

David Einhorn owns 2,284,492 shares as of 03/31/2010, which accounts for 0.86% of the $3.08 billion portfolio of Greenlight Capital Inc. Ruane Cunniff owns 195,000 shares as of 03/31/2010, which accounts for 0.03% of the $7.85 billion portfolio of Ruane & Cunniff & Goldfarb Inc.

Buy: President, CCO & Secretary Bernard D Berman bought 1,000 shares of FSC stock on 08/11/2010 at the average price of 10.21. Bernard D Berman owns at least 13,468 shares after this. The price of the stock has decreased by 1.67% since. Other insiders have also increased their positions in the company.

PharMerica Corp. (PMC): CEO Gregory S Weishar Bought 81,000 Shares

CEO of PharMerica Corp. (PMC) Gregory S Weishar bought 81,000 shares on 08/13/2010 at an average price of $7.91. PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. Pharmerica Corp. has a market cap of $242.3 million; its shares were traded at around $7.91 with a P/E ratio of 6.7 and P/S ratio of 0.1.

PMC recently reported its second quarter 2010 results. Net income decreased to $1.3 million, or $0.04 earnings per diluted share, compared with net income of $9.2 million, or $0.30 earnings per diluted share. Included in net income is an after-tax charge of $3.0 million, or the negative effect of $0.10 on earnings per diluted share related to certain claims arising from time periods prior to the 2007 formation of the Company. Adjusted earnings per diluted share were $0.22 compared with $0.31 in the prior year.

John Keeley owns 2,448,400 shares as of 06/30/2010, which accounts for 0.65% of the $5.56 billion portfolio of Keeley Fund Management.

Sell: SVP of Human Resources Anthony Hernandez sold 2,305 shares of PMC stock on 08/10/2010 at the average price of 8.2. Anthony Hernandez owns at least 10,460 shares after this. The price of the stock has decreased by 3.54% since. Other insiders have also decreased their positions in the company.

Akamai Technologies Inc. (AKAM): President and CEO Paul Sagan Bought 15,000 Shares

President and CEO of Akamai Technologies Inc. (AKAM) Paul Sagan bought 15,000 shares on 08/06/2010 at an average price of $44.22. Akamai Technologies Inc. is the global service provider for accelerating content and business processes online. Akamai Technologies Inc. has a market cap of $7.61 billion; its shares were traded at around $44.22 with a P/E ratio of 38.4 and P/S ratio of 8.8. Akamai Technologies Inc. had an annual average earning growth of 31.8% over the past 5 years.

AKAM recently reported its second quarter 2010 results. Revenue for second quarter 2010 was $245.3 million, a 20 percent increase over second quarter 2009 revenue of $204.6 million, and a 2 percent increase over first quarter 2010 revenue of $240.0 million.

PRIMECAP Management owns 1,738,086 shares as of 03/31/2010, which accounts for 0.09% of the $63.66 billion portfolio of PRIMECAP Management.

Buy: Director Peter J Kight bought 47,950 shares of AKAM stock on 08/11/2010 at the average price of 41.7. Peter J Kight owns at least 48,115 shares after this. The price of the stock has increased by 6.04% since. There are mixed trades from other insiders.
  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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