Over the past week there were several companies reporting smaller insider buys along some large insider sells. The following insiders reported the largest insider buys over the past week. These transactions were judged based on the number of insiders buying, transaction amount and the amount of shares being purchased.
Customers Bancorp (CUBI)
Over the past week there were two notable corporate executives making buys into Customers Bancorp. These insiders are CFO and Executive VP Robert Wahlman as well as Chairman and CEO Jay Sidhu.
On Nov. 18, Sidhu purchased a total of 25,800 shares of the company’s stock. He bought these shares at an average price of $16.95 per share for a total transaction amount of $437,310. Since his buy the price per share has dropped a slight -0.77%. Sidhu now holds on to at least 211,640 shares of the company’s stock.
Wahlman purchased a slightly larger 30,000 shares on Nov. 19. He bought these shares at an average price of $16.74 per share for a total transaction amount of $502,200. Since his buy the price per share has increased approximately 0.48%. The CFO now holds on to at least 30,000 shares of company stock.
As seen in the chart above, these are the first insider buys for the company since May 2013. The insiders of Customers do not have a strong history of either buying or selling their stake in the company.
Customers Bancorp Inc through its wholly-owned subsidiary Customers Bank, provides financial products and services to small businesses.
Customers Bancorp’s historical revenue and net income:
The analysis on Customers Bancorp reports that the company’s sales outstanding have been increasing, its revenue has been in decline over the past year and its price is nearing its 2-year high.
There are currently no gurus that hold a stake in Customers Bancorp.
Earlier today the company announced an up to 5% share repurchase program. This means that the Board of Directors has authorized a stock repurchase plan in which it could acquire up to 5% of its current outstanding shares at prices that are note to exceed a 20% premium over the current book value.
Customers Bancorp’s recently released third quarter financials reported:
· Earnings of $8.3 million, up from $6.6 million last year. An increase of 24.6%.
· Fully diluted EPS of $0.33.
· Net interest grew $1 million to $27 million last quarter.
· Total deposits grew $467.6 million to $3.2 billion.
The Peter Lynch Chart suggests that the company is currently undervalued:
Customers Bancorp has a market cap of $426 million. Its shares are currently trading at around $178.25 with a P/E ratio of 11.60, a P/S ratio of 3.00 and a P/B ratio of 1.10.
Carbonite Inc (CARB)
Over the past week two directors of Carbonite Inc reported insider buys. These directors made the first insider buys for the company since May 2012. The company has maintained a strong past of insider selling with only a handful of insider buys.
Director Todd Krasnow purchased the larger amount on Nov. 20. The director purchased a total of 37,000 shares at an average price of $11.35 per share. This transaction cost Krasnow a total of $419,950. Since his buy the price per share has increased 10.48%. Krasnow now holds on to at least 234,771 shares of the company’s stock.
Director William Nelson added a smaller 31,500 shares to his stake at a price of $11.40 per share. This cost the director a total of $359,100. Since his buy the price per share has increased approximately 10%. Nelson now owns approximately 1.432 million shares of company stock.
Carbonite is a provider of online backup solutions for consumers and small and medium-sized businesses. It provides easy-to-use, unlimited and secure online backup solutions with anytime access to files stored on its servers, which it calls the Carbonite Personal Cloud.
Carbonite’s historical revenue and net income:
The analysis on Carbonite reports that the company currently holds no debt.
The company’s third quarter financials report:
· Revenue of $27.7 million, up 28% from last year.
· Bookings of $27.6 million, up from $24.3 million last year.
· Net loss was ($1.2) million, compared to a loss of ($3.4) million last year.
· Cash flow from operations stayed flat at $2.4 million.
The company also announced earlier this month that they had eliminated its throttling policies and expanding its bandwidth capability. To read more about this check out Carbonite’s news release here.
Jim Simons is the only guru that holds a position in Carbonite. Simons owns 187,200 shares as of the close of the third quarter. His position makes up for 0.71% of the company’s shares outstanding and 0.01% of his total portfolio.
Carbonite has a market cap of $331.1 million. Its shares are currently trading at around $12.54 with a P/S ratio of 3.20 and a P/B ratio of 31.30.
Silver Bay Realty Trust (SBY)
Over the past week there were two insiders making significant buys into Silver Bay Realty Trust. These buys come as Silver Bay’s price is slightly rebounding from its 52-week low.
Director Irvin Kessler purchased the most, adding 25,000 shares to his stake. The director bought these shares at $15.35 per share costing him a total of $383,750. Since his buy, the price per share has increased approximately 3.39%. Kessler now holds on to at least 2.24 million shares of Silver Bay stock.
CEO David Miller added another 10,000 shares to his holdings on Nov. 19. The CEO purchased these shares at a price of $15.34 per share for a total transaction amount of $153,400. Since his buy the price per share has increased approximately 3.46%. Miller now holds on to at least 43,940 shares of the company’s stock.
Silver Bay has a strong history of insider buying as the share price has taken a nose dive over the past year. The price is now trading slightly up from its lowest monthly price of $15.46 per share.
Silver Bay Realty Trust is focused on the acquisition, renovation, leasing and management of single-family properties for rental income and long-term capital appreciation. The company generates virtually all of its revenue by leasing its portfolio of single-family properties.
Silver Bay’s historical pricing:
Steven Cohen and Leon Cooperman both hold a stake in Silver Bay. Cohen holds the larger position, owning 1,612,265 shares of the company’s stock, representing 4.1% of the company’s shares outstanding as well as 0.14% of his total assets managed.
The analysis on Silver Bay reports that the company’s dividend yield is at a 1-year high, the price is near a 1-year low of $15.40 and the P/B and P/S ratios are trading at around 1-year lows.
The company recently announced its third quarter results which highlighted:
· Total revenue increased of 35% quarter-over-quarter to $14.5 million.
· Net operating income increased 44% quarter-over-quarter to $4.5 million.
· Net asset value appreciated 3% to $19.50 per fully diluted share.
· Owned portfolio of 5,575 single-family properties, of which 4,521 properties were leased, resulting in an occupancy increase to 81%, up from 65% last quarter.
Silver Bay Realty Trust has a market cap of $611.2 million. Its shares are currently trading at around $15.75 with a P/S ratio of 17.10 and a P/B ratio of 0.90.
Cheesecake Factory (CAKE)
Over the past week there were two directors making buys into the Cheesecake Factory as the company’s share price continues to increase.
Director Alexander Cappello purchased 4,690 shares on Nov. 19. He bought these shares at an average price of $47.88 per share. This cost the director a total of $224,557. Since his purchase the price per share has increased an additional 2.67%. Cappello now owns at least 4,690 shares of the company’s stock.
Director Douglas Schmick purchased a much smaller 515 shares at $47.72 per share. His transaction cost him a total of $24,576. Since his buy the price per share has increased approximately 3.02%. Schmick now owns at least 1,785 shares of company stock.
As shown in the chart above the company has a more consistent trend of insiders making sells as their share price has steadily increased to its 10-year high.
Cheesecake Factory Inc. is a restaurant holding company which owns, operates and manages upscale, casual dining and full-service restaurants under the brands of The Cheesecake Factor, Grand Lux Café and RockSugar Pan Asian Kitchen.
Cheesecake Factory’s historical revenue and net income:
The analysis on Cheesecake Factory reports that the company’s price is at a 10-year high, it has no debt, its operating margin is expanding and it has shown predictable revenue and earnings growth.
The top guru shareholders of Cheesecake Factory:
1. Ron Baron: 1,650,000 shares, representing 3.06% of the company’s shares outstanding and 0.36% of his total portfolio.
2. Mario Gabelli: 1,140,928 shares, representing 2.12% of the company’s shares outstanding and 0.29% of his total portfolio.
3. John Hussman: 642,000 shares, representing 1.19% of the company’s shares outstanding and 1.6% of his assets managed.
The company’s recently released third quarter results report:
· Revenues were $469.7 million, compared to $453.8 million last year.
· Net income and fully diluted EPS were $27.5 million and $0.50, respectively.
· Recorded a $1.1 million pre-tax charge during the quarter related to the planned relocation of three Cheesecake Factory restaurants.
The Peter Lynch Chart suggests that the company is currently overvalued:
Cheesecake Factor has a market cap of $2.54 billion. Its shares are currently trading at around $48.57 with a P/E ratio of 25.70, a P/S ratio of 1.40 and a P/B ratio of 4.60. The company had an annual average earnings growth of 9.80% over the past ten years.
GuruFocus rated Cheesecake Factory the business predictability rank of 4-star.
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- 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.