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Weekly CFO Buys Highlight: PTSX, MTG, IRDM, SQNM, FNFG, LF

August 13, 2012 | About:
gurujk

gurujk

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According to GuruFocus Insider Data, these are the largest CFO buys during the past week. The overall trend of CFOs is illustrated in the chart below:



Point.360 (PTSX): CFO Alan R. Steel Bought 130,000 Shares

CFO of Point.360 (PTSX) Alan R. Steel bought 130,000 shares on 08/02/2012 at an average price of $0.34. Point 360 is integrated media management services company providing film, video and audio post-production, archival, duplication, computer graphics and distribution services to motion pictures studios, television networks, independent production companies and multinational companies. Point.360 has a market cap of $7.15 million; its shares were traded at around $0.68 with and P/S ratio of 0.2.

Point.360 reported financial results for the quarter ended May 11, 2012. Revenues were $8.5 million for the three months ended March 31, 2012, compared to $9.3 million for the three months ended March 31, 2011. Net loss was $0.3 million in the fiscal 2012 period, compared to a net income of $0.2 million in the 2011 period.

CEO, 10% Owner Haig S Bagerdjian and CFO Alan R Steel bought shares of PTSX stock.

MGIC Investment Corp. (MTG): Executive Vice President and CFO Jon Michael Lauer Bought 75,000 Shares

Executive Vice President and CFO of MGIC Investment Corp. (MTG) Jon Michael Lauer bought 75,000 shares on 08/06/2012 at an average price of $0.89. MGIC Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. MGIC Investment Corp. has a market cap of $228.29 million; its shares were traded at around $1.14 with and P/S ratio of 0.15.

MGIC Investment Corporation reported a net loss for the quarter ended June 30, 2012 of $273.9 million, compared with a net loss of $151.7 million for the same quarter a year ago. Diluted loss per share was $1.36 for the quarter ending June 30, 2012, compared to diluted loss per share of $0.75 for the same quarter a year ago. The net loss for the first six months of 2012 was $293.4 million, compared with a net loss of $185.4 million for the same period last year. Total revenues for the second quarter were $321.1 million, compared with $367.0 million in the second quarter last year.

Chairman and CEO Curt S. Culver, Executive Vice President and CFO Jon Michael Lauer, and Senior Vice President James A. Karpowicz bought shares of MTG stock.

Iridium Communications Inc. (IRDM): CFO Thomas Fitzpatrick Bought 10,000 Shares

CFO of Iridium Communications Inc. (IRDM) Thomas Fitzpatrick bought 10,000 shares on 08/07/2012 at an average price of $7.08. Iridium Communications Inc., formerly GHL Acquisition Corp. Iridium Communications Inc. has a market cap of $533.66 million; its shares were traded at around $7.3 with a P/E ratio of 11.22 and P/S ratio of 1.39.

Iridium Communications Inc. reported financial results for the second quarter of 2012. Net income was $17.7 million, or $0.23 per diluted share, for the second quarter of 2012, as compared to $11.7 million, or $0.16 per diluted share, for the second quarter of 2011. Net income increased 51 percent year-over-year. Total revenue grew 1 percent versus the comparable period of 2011, while service revenue increased 5 percent from the year-ago period.

CFO Thomas Fitzpatrick, Vice President Iridium Satellite LLC Richard P. Nyren, and 10% Owner Baralonco Ltd. bought shares of IRDM stock.

Sequenom Inc. (SQNM): CFO Paul V. Maier Bought 10,000 Shares

CFO of Sequenom Inc. (SQNM) Paul V. Maier bought 10,000 shares on 08/01/2012 at an average price of $2.86. Sequenom Inc. is in the field of industrial genomics. Sequenom Inc. has a market cap of $399.75 million; its shares were traded at around $3.49 with and P/S ratio of 7.15. Sequenom Inc. had an annual average earnings growth of 14.5% over the past five years.

Sequenom Inc. reported revenue of $18.3 million for the second quarter of 2012, an increase of 23% from revenue of $14.9 million in the first quarter of 2012 and a 38% increase compared to revenue of $13.3 million for the second quarter of 2011.

CEO Harry F. Hixson Jr., CFO Paul V. Maier, and Director Charles P. Slacik bought shares of SQNM stock,

First Niagara Financial Group Inc. (FNFG): CFO Gregory W. Norwood Bought 10,000 Shares

CFO of First Niagara Financial Group Inc. (FNFG) Gregory W. Norwood bought 10,000 shares on 08/02/2012 at an average price of $7.47. First Niagara Financial Group Inc. is a multi-bank holding company and is the parent of First Niagara Bank, Cortland Savings Bank and Cayuga Bank. First Niagara Financial Group Inc. has a market cap of $2.88 billion; its shares were traded at around $8.16 with a P/E ratio of 9.6 and P/S ratio of 2.2. The dividend yield of First Niagara Financial Group Inc. stocks is 3.92%. First Niagara Financial Group Inc. had an annual average earnings growth of 3.5% over the past 10 years.

First Niagara Financial Group Inc. announced second quarter 2012 results. Total operating revenues of $338.7 million, which do not include the previously announced $15.9 million gain recorded on the sale of mortgage-backed securities, increased $26.4 million, or 8% over the first quarter of 2012. On a GAAP basis, First Niagara reported a second quarter loss to common shareholders of $18.5 million, or $0.05 per diluted share, compared to net income to common shareholders of $54.8 million, or $0.16 per diluted share, in the first quarter of 2012.

CFO Gregory W. Norwood, Chief Credit Officer Richard M. Barry, and COO Gary M. Crosby bought shares of FNFG stock.

LeapFrog Enterprises Inc. (LF): CFO Raymond L. Arthur Bought 10,000 Shares

CFO of LeapFrog Enterprises Inc. (LF) Raymond L. Arthur bought 10,000 shares on 08/03/2012 at an average price of $10.35. Leapfrog Enterprises is a designer, developer and marketer of innovative, technology-based educational products and related proprietary content, dedicated to making learning effective and engaging. Leapfrog Enterprises Inc. has a market cap of $625.79 million; its shares were traded at around $11.25 with a P/E ratio of 19.4 and P/S ratio of 1.37.

LeapFrog Enterprises Inc. announced financial results for the second quarter ended June 30, 2012. Loss from operations was $7 million for the second quarter 2012, an improvement of $6 million, or 43%, compared to a year ago.

CFO Raymond L. Arthur and 10% Owner Holdings LLC Mollusk sold shares of LF stock.

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

Rating: 2.3/5 (7 votes)

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