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Weekly CFO Buys Highlight: OCN, SIX, IEC, STLY, OABC

March 06, 2011 | About:
gurujk

gurujk

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According to GuruFocus Insider Data, these are the largest CFO buys during the past week.

OCWEN FINANCIAL Corp. (OCN): EVP, CFO and CAO Vlack John Patrick Van Bought 20,000 Shares

EVP, CFO and CAO of OCWEN FINANCIAL Corp. (OCN) Vlack John Patrick Van bought 20,000 shares on 03/04/2011 at an average price of $10.36. Ocwen Financial Corporation is a financial services holding company engaged in asset acquisition and resolution, residential finance, commercial finance, investment management and hotel operations. Ocwen Financial Corp. has a market cap of $1.05 billion; its shares were traded at around $10.4 with a P/E ratio of 13.6 and P/S ratio of 3. Ocwen Financial Corp. had an annual average earning growth of 16.1% over the past 5 years.

Ocwen Financial Corporation reported net income for the twelve months ended December 31, 2010 of $38.0 million or $0.36 per share, compared with net income of $0.3 million or $0.00 per share in 2009. 2010 net income includes the reversal of a $9.1 million valuation allowance for income tax expense. For the fourth quarter of 2010 Ocwen reported net income of $9.9 million compared to net income of $9.4 million for the fourth quarter of 2009.

Hedge Fund Gurus that owns OCN: Whitney Tilson of T2 Partners Management, LP. Mutual Fund and Other Gurus that owns OCN: Chuck Royce of Royce& Associates.

EVP, CFO and CAO Vlack John Patrick Van bought shares of OCN stock.

Chairman, 10% Owner William C Erbey sold shares of OCN stock.

SIX FLAGS ENTERTAINMENT CORP. (SIX): Executive Vice President, CFO John M Duffey Bought 28,000 Shares

Executive Vice President, CFO of SIX FLAGS ENTERTAINMENT CORP. (SIX) John M Duffey bought 28,000 shares on 02/25/2011 at an average price of $59.98. Six Flags Entertainment Corporation owns and operates regional parks. Six Flags Entertainment Corp. has a market cap of $1.74 billion; its shares were traded at around $62.65 with and P/S ratio of 1.8. The dividend yield of Six Flags Entertainment Corp. stocks is 0.4%.

Hedge Fund Gurus that owns SIX: Daniel Loeb of Third Point, LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns SIX: Chuck Royce of Royce& Associates.

Executive Vice President, CFO John M Duffey, Executive Vice President, GC Lance C Balk, and COO Alexander Jr Weber bought shares of SIX stock.

IEC ELECTRONICS CORP. (IEC): VP and CFO Susan E. Topel-samek Bought 10,000 Shares

VP and CFO of IEC ELECTRONICS CORP. (IEC) Susan E. Topel-samek bought 10,000 shares on 02/25/2011 at an average price of $8.65. IEC Electronics Corp. is a full service, ISO 9001 and 9002 certified, contract manufacturer employing state-of-the-art production utilizing both surface mount and pin-through-hole technology. Iec Electronics Corp. has a market cap of $82.8 million; its shares were traded at around $8.999 with a P/E ratio of 17.2 and P/S ratio of 0.8.

IEC Electronics Corp. announced its unaudited results for the first quarter of fiscal 2011 ending December 31, 2010. The Company reported revenue of $28.7 million for the quarter, operating income of $1,963,000 and net income of $1,049,000 or $0.11 per diluted share. This compares to revenue in the prior year first quarter of $18.1 million, operating income of $1,313,000 and net income of $754,000 or $.08 per diluted share.

CEO W Barry Gilbert bought shares of IEC stock.

Stanley Furniture Company Inc. (STLY): COO & CFO Micah S. Goldstein Bought 10,000 Shares

COO & CFO of Stanley Furniture Company Inc. (STLY) Micah S. Goldstein bought 10,000 shares on 03/03/2011 at an average price of $5.37. Stanley Furniture Company is a designer and manufacturer of residential wood furniture exclusively targeted at the upper-medium price range. Stanley Furniture Company Inc. has a market cap of $56.7 million; its shares were traded at around $5.47 with and P/S ratio of 0.4.

Stanley Furniture Company, Inc. reported a net loss of $8.32 million, or $0.73 diluted per share, for the fourth quarter ended December 31, 2010, compared to a net loss of $1.28 million, or $0.12 per diluted share, for the fourth quarter ended December 31, 2009. Net sales for the fourth quarter of 2010 were $27.69 million, compared to $39.91 million, for the fourth quarter of 2009.

Hedge Fund Gurus that owns stly: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns stly: Third Avenue Management, Ronald Muhlenkamp of Muhlenkamp Fund, Donald Smith of Donald Smith & Co., Chuck Royce of Royce& Associates.

COO & CFO Micah S. Goldstein bought shares of STLY stock.

OmniAmerican Bancorp Inc. (OABC): SEVP and CFO Deborah B Wilkinson Bought 9,743 Shares

SEVP and CFO of OmniAmerican Bancorp Inc. (OABC) Deborah B Wilkinson bought 9,743 shares on 02/23/2011 at an average price of $15.29. OmniAmerican Bancorp is the holding company for OmniAmerican Bank, a full-service financial institution headquartered in Fort Worth, Texas. Omniamerican Bancorp Inc. has a market cap of $187.6 million; its shares were traded at around $15.75 with a P/E ratio of 112.4 and P/S ratio of 2.7.

OmniAmerican Bancorp, Inc reported a net income of $316,000 for the fourth quarter ended December 31, 2010, compared to $98,000 for the fourth quarter of 2009.

Hedge Fund Gurus that owns OABC: Michael Price of MFP Investors LLC. Mutual Fund and Other Gurus that owns OABC: Jeremy Grantham of GMO LLC.

President and CEO Tim Carter, SEVP and CFO Deborah B Wilkinson, and Director Elaine Anderson bought shares of OABC stock.

For the complete list of stocks that bought by their CFOs, go to: CFO 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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gurujk
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