GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Market Sold Off, Yet The CFO’s of These Companies Are Buying: Mad Catz Interactive, Furniture Brands International, Revlon, Adaptec, And Hill-Rom Holdings

February 22, 2009 | About:
Greenbackd

Last week, US stock market registered deep losses, yet according to GuruFocus Insider Data, some CFO’s are buying. The largest CFO buys during the past week came from these companies: Mad Catz Interactive Inc, Furniture Brands International Inc., Revlon Inc., Adaptec Inc., Hill-Rom Holdings Inc., and PennantPark Investment Corp.

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

Mad Catz Interactive Inc (MCZ): CFO Stewart A Halpern Bought 100,000 Shares

CFO of Mad Catz Interactive Inc (MCZ) Stewart A Halpern bought 100,000 shares of MCZ stock on 02/18/2009 at the average price of $0.18; the price of the stock has decreased by 11.11% since. Mad Catz Interactive Inc. is a video game company. It has a market cap of $13.63 million; its shares were traded at around $0.16 with and P/S ratio of 0.16.

Mad Catz Interactive Inc recently reported fiscal results for its first quarter 2009 ended June 30, 2008. The company announced its net loss of $0.78 million ($0.01 per diluted share). This is compared to the first quarter last year which included a net loss of $0.18 million ($0 per diluted share). Darren Richardson, President and Chief Executive Officer of Mad Catz, stated, "Mad Catz' record first quarter net sales of $23.2 million and gross profit margin of 34.9% reflect the significant progress we continue to make in diversifying our product lines, expanding our international presence and building our portfolio of prominent licenses. During the quarter we introduced a popular new line of accessories to coincide with the launch of Nintendo's Wii Fit system, which meaningfully enhanced our product offerings on the Wii console.”

Pres & CEO, Director Darren Richardson also bought 110,000 shares of MCZ stock on 02/18/2009 at the average price of $0.19; the price of the stock has decreased by 15.79% since. VP & Gen Counsel of Subsidiary Whitney E Peterson bought another 275,000 shares of MCZ stock on 02/19/2009 at the average price of $0.18; the price of the stock has decreased by 11.11% since.

Furniture Brands International Inc. (FBN): Sr VP, CFO Steven G Rolls Bought 25,000 Shares

Sr VP, CFO of Furniture Brands International Inc. (FBN) Steven G Rolls bought 25,000 shares of FBN stock on 02/18/2009 at the average price of $1.83; the price of the stock has increased by 2.19% since. FBN sells residential furniture in the United States through three operating subsidiaries: Broyhill, Lane, and Thomasville. It has a market cap of $98.08 million; its shares were traded at around $1.87 with and P/S ratio of 0.06.

Furniture Brands International Inc. recently reported fiscal results for its fourth quarter 2008 ended December 31, 2008. The company announced its total revenues of $0.4 billion and net loss of $341.59 million ($7 per diluted share). This is compared to the fourth quarter last year which included total revenues of $504.8 million and a net loss of $40.68 million ($0.84 per diluted share). Ralph P. Scozzafava, Chairman of the Board and Chief Executive Officer, commented: "Furniture Brands is aggressively reshaping the company to deliver the products and value that consumers seek. We are doing the right things and taking the right actions in the midst of an unprecedented economic downturn. During 2008, these actions included a significant reduction in our workforce, aligning our manufacturing resources to maximize each brand's current and future opportunities, creating FBN Asia to get the most value from our contract manufacturers, implementing a shared services organization to deliver greater efficiency, and exiting a retail store strategy that was draining profitability. With many of our internal issues now behind us, future financial performance and reported results will better reflect the execution of the company's strategic plan and the value of our brands."

Other insiders also bought the company’s stocks: Chairman of the Board, CEO, Director Ralph P Scozzafava bought 50,000 shares of FBN stock on 02/09/2009 at the average price of $2.11; the price of the stock has decreased by 11.37% since. Sr VP, Human Resources Mary E Sweetman bought 9,300 shares of FBN stock on 02/19/2009 at the average price of $1.92; the price of the stock has decreased by 2.6% since. Sr VP, Gen Counsel, Secretary Jon D Botsford bought 10,000 shares of FBN stock on 02/10/2009 at the average price of $2.08; the price of the stock has decreased by 10.1% since.

Revlon Inc. (REV): Executive V.P. and CFO Alan Timothy Ennis Bought 20,000 Shares

Executive V.P. and CFO of Revlon Inc. (REV) Alan Timothy Ennis bought 20,000 shares during the past week at an average price of $2.87; the price of the stock has decreased by 4.18% since. Revlon Inc. is a cosmetics product company. It has a market cap of $190.38 million; its shares were traded at around $2.75 with a P/E ratio of 9.76 and P/S ratio of 0.14.

Revlon Inc. recently reported fiscal results for its quarter 2008 ended on December 31, 2008. The company announced its total revenues of $334.2 million and net income of $11.3 million ($0.22 per diluted share). This is compared to the fourth quarter last year which included total revenues/losses of $ $373.3 million and a net income of $40.8 million ($0.80 per diluted share). Revlon President and Chief Executive Officer, David Kennedy, said, “During the year, net sales growth in Revlon brand color cosmetics, which was driven by strong new product introductions and a more focused allocation of advertising and promotional expenditures, along with continued rigorous cost control, resulted in significantly improved financial performance. Specifically, and as we forecasted, the Company improved operating margins, profitability and generated positive free cash flow and net income. In addition, during 2008, we reduced debt by $110 million, improving our capital structure.”

Other insiders also bought the company’s stock: EVP, HR, CLO & General Counsel Robert K. Kretzman bought 10,000 shares of REV stock on 02/17/2009 at the average price of $3.39; the price of the stock has decreased by 18.88% since. Director Barry F Schwartz bought 20,000 shares of REV stock on 02/17/2009 at the average price of $3.05; the price of the stock has decreased by 9.84% since.

Adaptec Inc. (ADPT): CFO Mary Dotz Bought 10,000 Shares

CFO of Adaptec Inc. (ADPT) Mary Dotz bought 10,000 shares on 02/18/2009 at an average price of $2.31; the price of the stock has decreased by 0.43% since. Adaptec Inc. is a data storage company. Adaptec Inc. has a market cap of $305.93 million; its shares were traded at around $2.32 with a P/E ratio of 35.86 and P/S ratio of 1.83.

Adaptec Inc. recently reported fiscal results for its third quarter 2009 ended on December 26, 2008. The company announced its total revenues of $28.2 million and net loss of $1.3 million ($0.01 per diluted share). This is compared to the third quarter last year which included total revenues of $26.1 million, a net income of $1.1 million ($0.01 per diluted share). "While these remain difficult economic times, Adaptec is focused on what will enable us to win in the long-term -- innovating for future growth and carefully managing the business. In the past quarter, we successfully completed the Aristos integration, won two channel awards for leadership, and brought a new and leading product to market," said S. "Sundi" Sundaresh, President and CEO of Adaptec. "We have a strong balance sheet that provides us flexibility as we continue to execute on the business imperatives that will allow us to succeed in the long-term."

Other insiders also bought the company’s stock: President & CEO Subramanian Sundaresh bought 10,000 shares of ADPT stock on 02/18/2009 at the average price of $2.32; the price of the stock has decreased by 0% since.

Hill-Rom Holdings Inc. (HRC): Senior V.P., CFO & Treasurer Gregory N Miller Bought 17,500 Shares

Senior V.P., CFO & Treasurer of Hill-Rom Holdings Inc. (HRC) Gregory N Miller bought 17,500 shares during the past week at an average price of $11.47; the price of the stock has increased by 0.17% since. Hill-Rom Holdings Inc.. is a medical device company. It has a market cap of $750.73 million; its shares were traded at around $11.49 with a P/E ratio of 7.11 and P/S ratio of 0.5. Its dividend yield is 3.41%.

Hill-Rom Holdings Inc. recently reported fiscal results for its first quarter 2008 ended December 31, 2008. The company announced its total revenues of $351.6 million, net income of $14.2 million ($0.23 per diluted share). This is compared to the first quarter last year which included total revenues of $341.4 million, a net income of $12.4 million ($0.20 per diluted share). "As we reported last month, U.S. hospital customers made significant and rapid reductions of capital spending during the last half of the quarter on a wide variety of medical technologies, including ours. Because of our diverse portfolio, rental alternatives, the relative strength of our international business and the acquisition of Liko, we were better able to weather the storm in the first quarter," commented Peter H. Soderberg, president and CEO of Hill-Rom. "As we look forward, we believe U.S. hospitals will continue to reduce or postpone capital purchases as they respond to the effects of the economy on their operations; further, we anticipate that during the second half of the year we might begin to see signs in Europe of softening capital expenditures. All this has led us to update our guidance and present a more cautious outlook for the rest of 2009."

Director W August Hillenbrand sold 478,240 shares of HRC stock on 12/08/2008 at the average price of $20.91; the price of the stock has decreased by 45.05% since.


Rating: 3.8/5 (8 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide