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Weekly CFO Sells Highlight: DFS, ZQK, LH, VRNT, GRB, TTWO, CLWR

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According to GuruFocus Insider Data, the weeks top five stocks that were sold by their CFO’s were Discover Financial Services, Quicksilver Inc., Laboratory Corp of American Holdings, Verint Systems Inc., Gerber Scientific Inc., TakeTwo Interactive Software Inc., and ClearWire Corp.

Discover Financial Services (DFS): EVP, CFO and CAO Roy A Guthrie Sold 115,000 Shares

EVP, CFO and CAO of Discover Financial Services (DFS) Roy A Guthrie sold 115,000 shares on 12/27/2010 at an average price of $18.5. Discover Financial Services operates the Discover Card with more than fifty million card members, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services has a market cap of $10.09 billion; its shares were traded at around $18.53 with a P/E ratio of 15.2 and P/S ratio of 1.2. The dividend yield of Discover Financial Services stocks is 0.4%.

Discover Financial Services recently reported its fourth quarter 2010 results. The company reported net income of $350 million, compared to a net income of $353 million prior year quarter.

DFS is in the portfolios of Steven Romick of FPA Crescent Fund, PRIMECAP Management, Larry Robbins of Glenview Capital, Columbia Wanger of Columbia Wanger Asset Management, First Pacific Advisors of First Pacific Advisors, LLC, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jeff Auxier of Auxier Focus Fund, Mario Gabelli of GAMCO Investors, David Dreman of Dreman Value Management, John Keeley of Keeley Fund Management, Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, Diamond Hill Capital of Diamond Hill Capital Management Inc, Steven Cohen of SAC Capital Advisors, Manning & Napier Advisors, Inc, Jeremy Grantham of GMO LLC, Chuck Royce of Royce& Associates.

Sell: EVP, CFO and CAO Roy A Guthrie sold 115,000 shares of DFS stock on 12/27/2010 at the average price of 18.5 President and COO Roger C Hochschild sold 100,000 shares of DFS stock on 12/20/2010 at the average price of 18.26.

Quiksilver Inc. (ZQK): CFO Joseph Scirocco Sold 60,000 Shares

CFO of Quiksilver Inc. (ZQK) Joseph Scirocco sold 60,000 shares on 12/27/2010 at an average price of $5.14. Quiksilver, Inc. is the world's outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, wintersports and golf equipment, footwear, accessories and related products. Quiksilver Inc. has a market cap of $831.2 million; its shares were traded at around $5.07 with a P/E ratio of 20.2 and P/S ratio of 0.5. Quiksilver Inc. had an annual average earning growth of 4.4% over the past 10 years.

Quiksilver Inc. recently reported its fourth quarter 2010 results. The company reported Pro-forma adjusted EBITDA of $59.5 million dollars, an increase of 19 percent from the $49.9 million prior year quarter. However, Net revenues for the quarter decreased by 8 percent to $495.1 million dollars.

ZQK is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, PRIMECAP Management, Chuck Royce of Royce& Associates, Charles Brandes of Brandes Investment, Steven Cohen of SAC Capital Advisors, Mario Gabelli of GAMCO Investors.

Sell: CEO Robert B Jr Mcknight and CFO Joseph Scirocco sold a total of 360,000 shares of ZQK stock late December. Chief Administrative Officer Charles S Exon sold shares of ZQK stock in December.

Laboratory Corp. of America Holdings (LH): CFO, EVP William B Hayes Sold 30,366 Shares

CFO, EVP of Laboratory Corp. of America Holdings (LH) William B Hayes sold 30,366 shares on 12/27/2010 at an average price of $87.95. Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of America Holdings has a market cap of $8.94 billion; its shares were traded at around $87.92 with a P/E ratio of 16.4 and P/S ratio of 1.9. Laboratory Corp. Of America Holdings had an annual average earning growth of 17.6% over the past 10 years.

Laboratory Corp. of America Holdings reported its third quarter 2010 results. The company reported net earnings of $140 million dollars compared to $131.4 million dollars prior year quarter. EPS were $1.34. The company has also decided to acquire Genzyme Genetics for $925 million.

LH is in the portfolios of Glenn Greenberg of Brave Warrior Capital, Inc., Ronald Muhlenkamp of Muhlenkamp Fund, Wallace Weitz of Weitz Wallace R & Co, John Hussman of Hussman Economtrics Advisors, Inc., Richard Pzena of Pzena Investment Management LLC, Edward Owens of Vanguard Health Care Fund, John Rogers of ARIEL CAPITAL MANAGEMENT LLC, Westport Asset Management, Mark Hillman of Hillman Capital Management, Whitney Tilson of T2 Partners Management, LP, Jeremy Grantham of GMO LLC, Mario Gabelli of GAMCO Investors, Larry Robbins of Glenview Capital, Steven Cohen of SAC Capital Advisors, Chris Davis of Davis Selected Advisers.

Sell: CFO, EVP William B Hayes sold 60,366 shares of LH stock in October and December. Director Mahon Thomas P Mac sold 155,000 shares of LH stock on 12/01/2010 at the average price of 85.

Verint Systems Inc. (VRNT): CFO Douglas Robinson Sold 20,876 Shares

CFO of Verint Systems Inc. (VRNT) Douglas Robinson sold 20,876 shares on 12/23/2010 at an average price of $31.5. Verint Systems Inc. is a provider of analytic solutions for communications interception, digital video security and surveillance, and enterprise business intelligence. Verint Systems Inc. has a market cap of $1.11 billion; its shares were traded at around $31.7 with and P/S ratio of 1.6.

VRNT is in the portfolios of George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors.

Sell: President & CEO Dan Bodner sold 80,097 shares of VRNT stock on 12/15/2010 at the average price of 32.17. CFO Douglas Robinson and President, ACS Meir Sperling sold shares of VRNT stock in December.

Gerber Scientific Inc. (GRB): EVP and CFO Michael R Elia Sold 14,196 Shares

EVP and CFO of Gerber Scientific Inc. (GRB) Michael R Elia sold 14,196 shares on 12/29/2010 at an average price of $8. Gerber Scientific, Inc. is a global supplier of intelligent manufacturing systems. Gerber Scientific Inc. has a market cap of $197.7 million; its shares were traded at around $7.87 with and P/S ratio of 0.5. Gerber Scientific Inc. had an annual average earning growth of 4.5% over the past 5 years.

Gerber Scientific Inc. recently reported its second quarter 2011 ended December 9, 2010. The company reported revenue of $129.3 million, an increase of 9 percent from the $118.7 million prior year quarter. Gross profit of the company increased to $38.6 million from the $35.2 million prior year quarter. CEO of Gerber Scientific Inc. Marc Giles said, “We continued our positive performance trend in the second quarter, with currency-neutral revenue up 11%, fueled by a strong rebound in equipment sales, up 27%, and solid revenue gains in software and aftermarket products, up 17% and 4%, respectively.”

GRB is in the portfolios of Mario Gabelli of GAMCO Investors, Chuck Royce of Royce& Associates, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jim Simons of Renaissance Technologies LLC.

Sell: EVP and CFO Michael R Elia and SVP John R Hancock sold shares of GRB stock in December.

TakeTwo Interactive Software Inc. (TTWO): CFO Lainie Goldstein Sold 13,924 Shares

CFO of TakeTwo Interactive Software Inc. (TTWO) Lainie Goldstein sold 13,924 shares on 12/29/2010 at an average price of $12.23. Take-Two Interactive Software, Inc. is a worldwide developer, publisher and distributor of interactive software games. Taketwo Interactive Software Inc. has a market cap of $1.04 billion; its shares were traded at around $12.265 with a P/E ratio of 21.3 and P/S ratio of 0.9.

TakeTwo Interactive Software Inc. recently reported its fourth quarter 2010 results. The company reported net income of $53.8 million compared to a loss of $23.5 million prior year quarter. Much of this profit is attributed to the companies hit release of NBA 2011.

TTWO is in the portfolios of Carl Icahn of Icahn Capital Management LP, Arnold Schneider of Schneider Capital Management, Larry Robbins of Glenview Capital, Mario Gabelli of GAMCO Investors, Jim Simons of Renaissance Technologies LLC, Louis Moore Bacon of Moore Capital Management, LP, Pioneer Investments, Paul Tudor Jones of The Tudor Group, Steven Cohen of SAC Capital Advisors, Bruce Kovner of Caxton Associates.

Sell: CFO Lainie Goldstein sold 28,924 shares of TTWO stock in December.

Buy: 10% Owner Carl C Icahn bought 291,400 shares of TTWO stock in September.

Clearwire Corp. (CLWR): CFO Erik Prusch Sold 10,000 Shares

CFO of Clearwire Corp. (CLWR) Erik Prusch sold 10,000 shares on 12/28/2010 at an average price of $5.16. CLEARWIRE CORPORATION is a provider of simple, portable and reliable wireless high-speed Internet service. Clearwire Corp. has a market cap of $5.08 billion; its shares were traded at around $5.15 with and P/S ratio of 18.5.

During its third quarter 2010, Clearwire Corp. reported a record 1.23 million new subscribers to its 4G mobile broadband service. Revenue for the third quarter was $147 million, a 114 percent increase from the $68.8 million prior year quarter.

CLWR is in the portfolios of Larry Robbins of Glenview Capital, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors, Mario Gabelli of GAMCO Investors, Pioneer Investments.

Sell: CFO Erik Prusch sold 30,000 shares of CLWR stock in December. SVP & Chief Technology Officer John Saw sold 90,143 shares of CLWR stock on 11/08/2010 at the average price of 6.62.

For the complete list of stocks that Sold by their CFOs, go to: Insider Buys.

  • 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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