The following three companies brought in the largest insider buys of last week (in terms of transaction amounts). You can find the largest insider buys every week by using the GuruFocus All-in-One Screener.
Ring Energy (RNGE)
Ring Energy reported four insider buys last week. These buys came as the company announced that it has raised approximately $19.3 million through a private placement of approximately 3.5 million restricted shares of its common stock at a price of $5.50 per share.
Four insiders bought these shares. The insiders included: Director Anthony Petrelli, Director Stanley McCabe, VP of Operations Daniel Wilson and CEO Kelly Hoffman.
These insiders bought a total of 574,546 shares of company stock. The total transaction amount for these buys equals $3,160,003. Since their buys, the price per share has increased approximately 61.27%.
Ring Energy is an oil and gas exploration, development and production company with current operations in Texas and Kansas.
Ring Energy’s historical price, revenue and net income:
Ring Energy has a market cap of $118.6 million; its shares were traded at around $8.80 with a P/S ratio of 37.00.
Vitesse Semiconductor Corp. (VTSS)
Seven insiders made buys into Vitesse on June 25. These buys came as the company closed its public offering of $40.2 million of common stock.
These seven insiders made their buys at the Public Offering price of $2.15 per share. They bought a total of 143,600 shares, costing them a total of $308,740. Since the close of the public offering, the price per share has jumped up 28.84%.
"The success of our public offering speaks volumes to the confidence our investors have in our strategy, products, team, and growth potential. The net proceeds from this offering have considerably strengthened our balance sheet, and give us flexibility in handling the debt principal due in 2014," said Chris Gardner, CEO of Vitesse. "The proceeds from the offering will help us toward our goal of driving long-term growth and profitability."
Vitesse designs a diverse portfolio of high-performance semiconductor solutions for Carrier and Enterprise networks worldwide. Vitesse products enable the fastest-growing network infrastructure markets including Mobile Access/IP Edge, Cloud Computing and SMB/SME Enterprise Networking.
Vitesse’s historical price, revenue and net income:
The analysis on Vitesse reports:
· The company has extremely low interest coverage.
· Their revenue has been in decline for the past five years.
· The price is at a 52-week high.
· The P/S ratio is nearing a one-year high of 0.75.
Vitesse has a market cap of $164.6 million; its shares were traded at around $2.77 with a P/S ratio of 0.70.
Christopher & Banks Corp. (CBK)
Two insiders made significant buys into Christopher & Banks this past week. These buys come as the stock price has come down from the 52-week high.
On June 26, President and CEO LuAnn Via bought 10,000 shares at an average price of $5.91 per share. This transaction cost her a total of $59,100. Since her buy, the price per share has dropped about 1.52%. Via currently holds 20,000 shares of Christopher & Banks stock.
On June 25, Chairman of the Board Paul Snyder added 5,000 shares to his holdings. These shares traded at an average $5.87 per share for a total of $29,350. Since his most recent buy, the price per share has decreased 0.85%. Snyder currently holds on to 105,010 shares of company stock.
Christopher & Banks is a company that specializes in women’s apparel. The company consists of retail, outlet and online businesses. As of June 7, the company operated 602 stores in 44 states.
The company’s second quarter financial results reported:
· Same-store sales increased 23.4%, as compared to the same quarter 2012.
· Net sales totaled $108.5 million compared to $93.6 million in the second quarter 2012.
· Net income totaled $0.6 million, or $0.02 per diluted share.
Christopher & Bank’s historical price, revenue and net income:
The analysis on Christopher & Banks reports:
· The revenue has been in decline for the past five years.
· The gross margin has been in a long term decline. The average rate of decline per year is 6.9%.
Christopher & Banks has a market cap of $213.3 million; its shares were traded at around $5.89 with a P/S ratio of 0.50.
- 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.