Weekly highlight of top insider buys: Crown Castle International Corp. (NYSE:CCI), Infinera Corp. (NASDAQ:INFN), Dish Network Corporation Class A Common (NASDAQ:DISH), Invitrogen Corp. (IVGN), Delphi Financial Group Inc. (DFG)
Crown Castle International Corp. (NYSE:CCI): Director David C Abrams Bought 4,500,000 Shares
Crown Castle International is a leading owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. The company owns leases or operates towers in the United States Puerto Rico and the United Kingdom. The company's customers currently include many of the world's major wireless communications and broadcast companies including Bell Atlantic Mobile Bellsouth AT&T Wireless Nextel Metricom and the British Broadcasting Corporation.
Crown Castle International Corp. announced on Friday, October 17 that the quarterly dividend on its 6.25% Convertible Preferred Stock will be paid on November 17, 2008 to holders of record on November 1, 2008. The dividend will be paid in cash at a rate of $0.78125 per share of Preferred Stock.
Crown Castle International Corp. is owned by two Gurus. As of 9/30/08, Steve Mandel bought 7,399,788 shares, which is 4.14% of the $5.18 billion portfolio of Lone Pine Capital. url=http://www.gurufocus.com/StockBuy.php?GuruName=Jean-Marie+Eveillard]Jean-Marie Eveillard[/url] owns 12,075 shares, which accounts for less than 0.01% of the $9.67 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. David Tepper sold out his holdings in the same quarter.
CEO & President, Director John P Kelly sold 30,407 shares of CCI stock in June at the average price of $42.49; the price of the stock has decreased more than 75% since. Director David C Abrams bought shares in November. Director Robert F Mckenzie, and 10% Owner Advisory Corp Spo sold shares of CCI in August, July, and June respectively. The price per share has decreased more than 75% since.
Crown Castle International Corp. has a market cap of $2.94 billion; its shares were traded at around $10.19 with P/S ratio of 2.04.
Infinera Corp. (NASDAQ:INFN): Director Alexandre Balkanski Bought 1,565,400 Shares
Infinera provides Digital Optical Networking systems to telecommunications carriers cable operators and other service providers worldwide. Infinera's large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera's DTN system and PIC technology are designed to provide optical networks that provide operating simplicity enhanced revenue generation faster time-to-service and capital cost savings.
Infinera will be hosting visitors at its booth at SuperComputing08, demonstrating 100 Gigabit Ethernet (GbE) service from a pre-production 100 GbE module and displaying the features and capabilities of the Infinera ILS2 line system.
Infinera Corp. is owned by one Guru. David Swensen owns 99,866 shares as of 09/30/2008, which accounts for 0.23% of the $414 million portfolio of Yale University .
Chairman, President & CEO, Director Jagdeep Singh sold 16,000 shares of INFN stock in November at the average price of $6.9; the price of the stock has increased by 8.84% since. Directors Alexandre Balkanski and Reed E Hundt bought shares of INFN in November and July; the price per share has increased more than 3% since. VP, Worldwide Sales Scott A Chandler, Chief Legal Counsel Michael O Iii Mccarthy, and Director Kenneth A Goldman sold shares of INFN in the last couple of months; the price per share has decreased more than 20% since.
Infinera Corp. has a market cap of $704.24 million; its shares were traded at around $7.51 with a P/E ratio of 8.72 and P/S ratio of 1.35.
DISH NETWORK CORPORATION (NASDAQ:DISH): Executive Vice President, Director James Defranco Bought 800,000 Shares
The Dish Network Corporation Class A Common operates three business units: The DISH Network - the direct broadcast satellite subscription television service in the United States . EchoStar Technologies Corporation division which is principally responsible for the design of digital set-top boxes or satellite receivers and the sale of set-top boxes to international operators. Satellite Services division provides video audio and data services to business television customers and other satellite users.
Shares of TiVo Inc. plunged on Friday, November 21 after a federal judge delayed granting its request to hold Dish Network Corp. in contempt of an injunction as part of a long-simmering patent infringement case. U.S. District Judge David Folsom late Thursday ordered a bench trial for Feb. 17 and 18 to determine whether Dish's new software for its digital video recorders violates TiVo's patents that allow playback of live TV.
Dish Network is owned by six Gurus. As of 9/30/08, Joel Greenblatt bought 19,964 shares in the quarter, which is 0.66% of the $63 million portfolio of Gotham Capital. Ruane Cunniff owns 773,500 shares, which accounts for 0.17% of the $9.47 billion portfolio of Ruane & Cunniff & Goldfarb Inc. Dodge & Cox owns 11,957,783 shares, which accounts for 0.28% of the $90.25 billion portfolio of Dodge & Cox. David Williams owns 1,800,000 shares, which accounts for 0.46% of the $8.23 billion portfolio of Columbia Value and Restructuring Fund. Bruce Berkowitz owns 19,580,622 shares, which accounts for 4.34% of the $9.46 billion portfolio of Fairholme Capital Management. Richard Perry owns 300,000 shares, which accounts for 0.25% of the $2.56 billion portfolio of Perry Capital.
Executive Vice President, Director James Defranco bought shares of DISH stock in November; the price of the stock has decreased by 10.53% since. Senior Advisor David K Moskowitz, Vice Chairman, Director Carl E Vogel, and SVP and Corporate Controller Paul W Orban sold shares of DISH in the last few months; the price per share has decreased more than 40% since.
Dish Network Corporation Class A Common has a market cap of $4.03 billion; its shares were traded at around $9.01 with a P/E ratio of 4.77 and P/S ratio of 0.32.
Invitrogen Corp. (IVGN): Director Ronald A Matricaria Bought 40,000 Shares
Invitrogen Corporation provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research drug discovery and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics proteomics bioinformatics and cell biology, placing Invitrogen's products in nearly every major laboratory in the world.
Invitrogen Corporation and Applied Biosystems Inc. announced on Thursday, November 20 the preliminary results of elections made by Applied Biosystems stockholders regarding their preferences as to the form of merger consideration they will receive in the pending acquisition of Applied Biosystems by Invitrogen. The election deadline for Applied Biosystems stockholders to have made merger consideration elections in connection with the proposed merger was 5:00 p.m., EST, on November 19, 2008.
Invitrogen Corporation is owned by two Gurus. As of 9/30/08, url=http://www.gurufocus.com/StockBuy.php?GuruName=Joel+Greenblatt]Joel Greenblatt[/url] bought 14,334 shares, which is 0.85% of the $63 million portfolio of Gotham Capital. Kenneth Fisher owns 12,300 shares, which accounts for less than 0.01% of the $31.63 billion portfolio of Fisher Asset Management, LLC. Chris Davis sold out his holdings in the same quarter.
CEO Gregory T Lucier bought 37,800 shares of IVGN stock in November at the average price of $26.42; the price of the stock has decreased by 15.86% since. Director Ronald A Matricaria bought 40,000 shares of IVGN stock in November; the price of the stock has decreased by 11.43% since.
Invitrogen Corp. has a market cap of $2.05 billion; its shares were traded at around $22.23 with a P/E ratio of 12.15 and P/S ratio of 1.38.
Delphi Financial Group Inc. (DFG): President & COO, Director Donald A Sherman Bought 80,430 Shares
Delphi Financial Group Inc. is a holding company whose subsidiaries provide integrated employee benefit services. The Company manages all aspects of employee absence to enhance the productivity of its clients and provides the related insurance coverages: long-term and short-term disability excess and primary workers' compensation group life and travel accident. The Company's asset accumulation business emphasizes individual annuity products.
Delphi Financial Group Inc. announced on Friday, November 7 that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share on the Company’s common stock, payable on December 4, 2008 to shareholders of record at the close of business on November 20, 2008.
Delphi Financial Group Inc. is owned by two Gurus. As of 9/30/08, John Keeley bought 14,000 shares, which is less than 0.01% of the $9.04 billion portfolio of Keeley Fund Management. Richard Pzena owns 1,136,224 shares, an increase of 40.75%, which accounts for 0.24% of the $13.21 billion portfolio of Pzena Investment Management LLC.
Chairman & CEO, Director, 10% Owner Robert Rosenkranz bought 200,000 shares of DFG stock in November at the average price of $8.88; the price of the stock has decreased by 7.55% since. President & COO, Director Donald A Sherman bought 80,430 shares of DFG stock in November; the price per share has decreased more than 14% since. Director Kevin R Brine sold 94,421 shares of DFG stock in November; the price per share has decreased more than 13% since.
Delphi Financial Group Inc. has a market cap of $385.37 million; its shares were traded at around $8.21 with a P/E ratio of 5.12 and P/S ratio of 0.25. The dividend yield of Delphi Financial Group Inc. stocks is 3.26%.
- 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.