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Weekly Top Insider Buys: Wynn Resorts Ltd., Cbeyond Inc., Titanium Metals Corp., Equitable Resources Inc., Huntington Bancshares Inc.

July 08, 2008 | About:
10qk

Weekly highlight of top insider buys. Related Companies: Wynn Resorts Ltd. (WYNN), Cbeyond Inc. (CBEY), Titanium Metals Corp. (TIE), Equitable Resources Inc. (EQT), Huntington Bancshares Inc. (HBAN).

Wynn Resorts Ltd. (WYNN): Director John A. Moran Bought 20,000 Shares

Wynn Resorts, Limited (WYNN) shares dropped to a year’s low, when analysts lowered the company’s their earnings. The company recently appointed Russell Goldsmith as the newest member of the board of directors. WYNN’s quarterly profits slipped 20%, on operating expense rise of 30% to $688 million. The casino operator made a total profit of $46.7 million or $0.41 a share compared to $58.4 million or $0.54 a share.

David Winters and Ron Baron own shares of Wynn Resorts Ltd.

Director John A. Moran bought 20,000 shares of WYNN stock on 6/26/08 at $84.80, and Director Alvin V. Shoemaker bought 1,000 shares of WYNN stock on 6/11/08 at $88.68.

Wynn Resorts Ltd. has a market cap of $8.86 billion; its shares were traded at around $79.26 with a P/E ratio of 35.93 and P/S ratio of 3.24.

Cbeyond Inc. (CBEY): Director D. Scott Luttrell Bought 38,648 Shares

Cbeyond, Inc. (CBEY) provides managed Internet protocol-based communications services to small businesses. The company narrowed their first quarter earnings 60%, on hefty income tax, despite 28% revenue increase to $80.5 million. CBEY earned $1 million or $0.04 a share for the quarter compared to $2.7 million or $0.10 a year ago. Currently, there is a class-action lawsuit against CBEY, regarding insider trades and stock price inflation.

Director D. Scott Luttrell bought 38,648 shares on 6/24/08 at $16; he also bought another 115,500 shares on 6/13/08 at $17.43.

Cbeyond Inc. has a market cap of $439.58 million; its shares were traded at around $15.31 with a P/E ratio of 23.27 and P/S ratio of 1.57.

Titanium Metals Corp. (TIE): Director Terry N. Worrell Bought 39,500 Shares

Titanium Metals Corporation (TIE) produces titanium melted and mill products. The company’s first quarter earnings dropped 46%, on higher global titanium inventory and titanium sales slowdown to aircraft manufacturer. Titanium Metals earned $40.3 million or $0.22 per share for the first quarter, compared to $75 million or $0.41 per share last year.

Director Terry N. Worrell bought a total of 39.500 shares over last week at $13.28 to $13.70. Also, Director & 10% Owner Harold C. Simmons bought a total of 350,000 shares since January at $18.41 to $20.40; and Director Glenn R. Simmons bought 6,360 shares on 1/23/08 at $18.55.

Titanium Metals Corp. has a market cap of $2.3 billion; its shares were traded at around $12.68 with a P/E ratio of 10.06 and P/S ratio of 2.01. The dividend yield of Titanium Metals Corp. stocks is 2.13%.

Equitable Resources Inc. (EQT): Vice President Steven T. Schlotterbeck Bought 4,084 Shares

Gas Utility Company Equitable Resources, Inc. (EQT) will be raise $503.million through public stock offering of 7.5 million shares. The company’s first quarter earnings increased 20% to $70.5 million, or $0.57 a share, compared to a prior $56.6 million or $0.46 a share.

George Soros bought 4,637 shares in the quarter that ended on 3/31/08.

VP Steven T. Schlotterbeck bought 4,084 shares on 6/27/08 at $67.71. Director Phyllis A. Domm sold 1,532 shares on 3/24/08 at $58.

Equitable Resources Inc. has a market cap of $8.46 billion; its shares were traded at around $69.23 with a P/E ratio of 31.34 and P/S ratio of 5.89. The dividend yield of Equitable Resources Inc. stocks is 1.31%.

Huntington Bancshares Inc. (HBAN): Sr EVP of Principal Sub Daniel B. Benhase Bought 10,000 Shares

Huntington Bancshares Incorporated (HBAN), a holding company for The Huntington National Bank, anticipates second quarter’s provisions for losses to be greater than their write-downs from credit defaults; as a result, the company’s shares rose 25% late-June. Specifically, HBAN expects the difference between provisions and actual defaults to be between $55 and $65 million.

Arnold Schneider bought 5,152,925 shares, while David Dreman and Bruce Sherman sold out all their holdings of Huntington Bancshares Inc.

SVP Daniel B. Benhase bought 10,000 shares on 6/30/08 at $5.79; and Daniel B. Benhase bought another 5,000 shares on 5/7/08 at $9.68. In June and May, other insiders bought between $5.35 and $6.15: Chairman & CEO, Director Thomas E. Hoaglin bought 15,000 shares; Director Michael J. Endres bought 25,000 shares; Director William J. Lhota bought 10,000 shares; Director Don M. Casto III bought 7,500 shares; Chief Risk Officer & EVP James W. Nelson bought 5,200 shares; CFO Donald R. Kimble, Director Gerard P. Mastroiannni, and Director David P. Lauer each bought 5,000 shares; Director Gene E. Little bought 3,000 shares; and finally Director Jonathan A. Levy bought 2,000 shares.

Huntington Bancshares Inc. has a market cap of $2.01 billion; its shares were traded at around $5.49 with a P/E ratio of 17.32 and P/S ratio of 1.41. The dividend yield of Huntington Bancshares Inc. stocks is 8.67%.

 


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