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Weekly CFO Buys Highlight: Verenium Corp., Inuvo Inc., Pixelworks Inc., Ghl Acquisition Corp, Supertel Hospitality Inc.

August 23, 2010 | About:
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gurujk

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According to GuruFocus Insider Data, the largest CFO buys during the past week were made by Verenium Corp., Inuvo Inc., Pixelworks Inc., Ghl Acquisition Corp, Supertel Hospitality Inc.

Verenium Corp. (VRNM): EVP, CFO James E. Levine Bought 50,006 Shares

EVP, CFO of Verenium Corp. (VRNM) James E. Levine bought 50,006 shares on 08/16/2010 at an average price of $2.51. Verenium Corporation is a leader in the development and commercialization of cellulosic ethanol, an environmentally-friendly and renewable transportation fuel, as well as high-performance specialty enzymes for applications within the biofuels, industrial, and health and nutrition markets. Verenium Corp. has a market cap of $39.1 million; its shares were traded at around $3.18 with and P/S ratio of 0.7. Verenium Corp. had an annual average earning growth of 1.4% over the past 10 years.

Verenium Corporation reported financial results for the second quarter of 2010. Total revenues for the second quarter and six months ended June 30, 2010 were $20.0 million and $33.0 million, respectively, compared to $16.3 million and $30.7 million for the same periods in the prior year, with product revenues representing more than 60 percent of total revenues in both periods. Net loss attributed to Verenium for the quarter ended June 30, 2010 was $4.5 million compared to a net loss of $20.0 million for the same period in 2009, on a GAAP accounting basis.

President & CEO Carlos A Riva, EVP, CFO James E. Levine, and Chief Accounting Officer Jeffrey G. Black bought shares of VRNM stock.

Inuvo Inc. (INUV): CFO Wallace D Ruiz Bought 11,299 Shares

CFO of Inuvo Inc. (INUV) Wallace D Ruiz bought 11,299 shares on 08/13/2010 at an average price of $0.26. Kowabunga!, Inc. enables online media buyers to generate conversions more efficiently across a wide range of online media. Inuvo Inc. has a market cap of $23.7 million; its shares were traded at around $0.28 with and P/S ratio of 0.5.

Inuvo Inc. announced its financial results for the second quarter ended June 30, 2010. Inuvo Inc. announced that revenue for the quarter ended June 30, 2010 was $11.5 million, a 20% increase over the first quarter of 2010 and a 21% increase from the same quarter last year. The net loss for the second quarter was $1.1 million compared to a net loss of $773 thousand for the same period last year.

INUV is in the portfolios of Jim Simons of Renaissance Technologies LLC.

CEO Richard K Howe, CFO Wallace D Ruiz, and Director Charles D Morgan bought shares of INUV stock.

Pixelworks Inc. (PXLW): VP, CFO & Treasurer Steven L Moore Bought 11,000 Shares

VP, CFO & Treasurer of Pixelworks Inc. (PXLW) Steven L Moore bought 11,000 shares on 08/13/2010 at an average price of $2.82. Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Pixelworks Inc. has a market cap of $40.2 million; its shares were traded at around $2.98 with a P/E ratio of 15.6 and P/S ratio of 0.6.

Pixelworks, Inc. announced financial results for the first quarter ended March 31, 2010. First quarter 2010 revenue was $18.7 million, in the mid-range of management guidance for the quarter. Revenue for the 2010 first quarter decreased 3% sequentially from $19.4 million in the fourth quarter of 2009 and was up 73% from $10.8 million in the first quarter of 2009. The Company recorded GAAP net income of $4.6 million, or $0.32 per diluted share in the first quarter of 2010, compared to GAAP net loss of $(0.8) million, or $(0.06) per share in the fourth quarter of 2009 and GAAP net income of $5.9 million, or $0.44 per diluted share in the first quarter of 2009.

PXLW is in the portfolios of Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.

VP, CFO & Treasurer Steven L Moore, Director C Scott Gibson, and Director James R Fiebiger bought shares of PXLW stock.

Ghl Acquisition Corp (IRDM): CFO Thomas Fitzpatrick Bought 10,000 Shares

CFO of Ghl Acquisition Corp (IRDM) Thomas Fitzpatrick bought 10,000 shares on 08/12/2010 at an average price of $9.42. Iridium Communications Inc., formerly GHL Acquisition Corp. Ghl Acquisition Corp has a market cap of $638.5 million; its shares were traded at around $9.09 with and P/S ratio of 8.4.

Iridium Communications Inc. reported financial results for the quarter ended June 30, 2010. The following reflects the results of Iridium Communications Inc. (the Company) for the second quarter of 2010 compared to those of Iridium Holdings LLC (predecessor) for the second quarter of 2009. Net income for the second quarter was $3.2 million compared to net income of $28.6 million for the second quarter of 2009. Total revenue increased to $84.0 million in the second quarter compared to $82.7 million during the second quarter of 2009. For the first half of 2010, revenue increased 4.6% over the first half of 2009.

IRDM is in the portfolios of George Soros of Soros Fund Management LLC.

CEO Matthew J Desch, Director Scott L Bok, and CFO Thomas Fitzpatrick bought shares of IRDM stock.

Supertel Hospitality Inc. (SPPR): Senior VP, CFO Corrine L Scarpello Bought 7,500 Shares

Senior VP, CFO of Supertel Hospitality Inc. (SPPR) Corrine L Scarpello bought 7,500 shares on 08/17/2010 at an average price of $1.33. Supertel Hospitality, Inc. is a self-advised real estate investment trust specializing in limited-service lodging. Supertel Hospitality Inc. has a market cap of $29 million; its shares were traded at around $1.3187 with a P/E ratio of 6.2 and P/S ratio of 0.3.

Revenues from continuing operations for the 2010 second quarter increased 3.1 percent to $24.7 million, compared to the same year-ago period. Net loss attributable to common shareholders for the 2010 second quarter was $(4.0) million, or $(0.18) per diluted share, compared to net income attributable to common shareholders of $0.9 million, or $0.04 per diluted share, in the 2009 same quarter, a decline of $4.9 million. The decrease was primarily the result of $4.5 million of impairment.

President / CEO Kelly A Walters and Senior VP, CFO Corrine L Scarpello bought shares of SPPR stock.

Director Paul J Schulte sold shares of SPPR stock.

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gurujk
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