Last week's top five stocks that were bought by their CEOs were Brown & Brown Inc, Globalstar Inc, Prospect Capital Corp, Manhattan Associates Inc, Zoll Medical Corp. According to GuruFocus Insider Data, these are the largest CEO buys during the past week.
Brown & Brown Inc. (BRO, Financial): Chairman and CEO, 10% Owner Hyatt J Brown Bought 54,000 Shares
Chairman and CEO, 10% Owner of Brown & Brown Inc. (BRO) Hyatt J Brown bought 54,000 shares on 04/23/2009 at an average price of $18.95. Brown & Brown Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services as well as risk management third party administration managed health care and Medicare set-aside services and programs. The company has a market cap of $2.68 billion; its shares were traded at around $18.95 with a P/E ratio of 16.3 and P/S ratio of 2.7. The dividend yield of Brown & Brown Inc. stocks is 1.5%. Brown & Brown Inc. had an annual average earning growth of 25% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 4.5-star.
Arnold Schneider owns 1,524,923 shares as of 12/31/2008, an increase of 68.55% from the previous quarter. This position accounts for 2.28% of the $1.4 billion portfolio of Schneider Capital Management. Ruane Cunniff owns 4,781,518 shares as of 12/31/2008, a decrease of 35.6% of from the previous quarter. This position accounts for 1.43% of the $6.97 billion portfolio of Ruane & Cunniff & Goldfarb Inc. Chris Davis owns 113,764 shares as of 12/31/2008, a decrease of 85.66% of from the previous quarter. This position accounts for less than 0.01% of the $52.56 billion portfolio of Davis Selected Advisers.
Buy: Director Theodore J Jr Hoepner bought 10,000 shares of BRO stock on 03/06/2009 at the average price of $16; the price of the stock has increased by 18.44% since.
Globalstar Inc. (GSAT, Financial): CEO, 10% Owner James Iii Monroe Bought 746,269 Shares
CEO, 10% Owner of Globalstar Inc. (GSAT) James Iii Monroe bought 746,269 shares on 04/29/2009 at an average price of $0.63. GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar has a market cap of $86.6 million; its shares were traded at around $0.63 with and P/S ratio of 1.1.
Globalstar Inc. recently reported its fourth quarter and full year 2008 results. The company announced that its revenue was $86.1 million. However, the company posted a net loss of $68 million, or $.79 per share. These results all dropped compared to the results for the full year of 2007. “We believe that Globalstar is only months away from taking delivery of the first of our second-generation satellites, paving the way for the return of high quality Globalstar satellite services for customers of our legacy voice and duplex data products,” said Jay Monroe, Chairman and Chief Executive Officer, Globalstar, Inc. Mr. Monroe added, “In 2010 we expect to complete the deployment of the initial phase of our second-generation constellation that is designed to provide high quality advanced satellite services beyond 2025. Most importantly, we expect that completing the deployment of our satellites on schedule will provide us with nearly a six-year second-generation head start based on the current plans of our present primary MSS competitor.”
Prospect Capital Corp. (PSEC, Financial): CEO John F Barry Bought 32,795 Shares
CEO of Prospect Capital Corp. (PSEC) John F Barry bought 32,795 shares on 04/23/2009 at an average price of $9.15. Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. The company has a market cap of $286.3 million; its shares were traded at around $9.15 with a P/E ratio of 4 and P/S ratio of 3.6. The dividend yield of Prospect Capital Corp. stocks is 17.6%.
PSEC recently reported its fourth quarter results for 2008. During the second half of 2008, net assets decreased by $1,820 from $429,623 as of the first half of 2008 to $427,803 as of 2008's second half. This net decrease in assets resulted from a $20,522 increase from operations, offset by $23,848 in dividends declared to the company's stockholders.
Buy: CFO & CCO Brian H Oswald bought 1,000 shares of PSEC stock on 02/17/2009 at the average price of $8.5; the price of the stock has increased by 7.65% since.
Manhattan Associates Inc. (MANH, Financial): President, CEO & Director Peter F Sinisgalli Bought 10,000 Shares
President, CEO & Director of Manhattan Associates Inc. (MANH) Peter F Sinisgalli bought 10,000 shares on 04/24/2009 at an average price of $16.66. Manhattan Associates is a leading provider of technology-based solutions toimprove supply chain effectiveness and efficiencies. The company has a market cap of $392.5 million; its shares were traded at around $16.66 with a P/E ratio of 18.3 and P/S ratio of 1.1. Manhattan Associates Inc. had an annual average earning growth of 33.3% over the past 10 years. GuruFocus rated Manhattan Associates Inc. the business predictability rank of 2.5-star.
Manhattan Associates Inc. recently reported its first quarter results. The company reported earnings per share of 1 cent. First quarter revenue was $60.8 million, about 31% lower than the overall revenue posted in the first quarter of 2008, therefore causing a decline in EPS. "Given our first quarter results — and the revisions most economists have made to their outlooks for the remainder of 2009 — we have lowered our revenue expectations for the year," Sinisgalli continued. "To partially offset our lower revenue forecast, we have eliminated about 100 positions where we have excess capacity, and have taken other actions for the balance of 2009 to reduce costs. These are: reducing the compensation of executive management and our board of directors; implementing an unpaid time-off plan for employees in the United States; suspending our 401(k) match; and taking other actions around the world to preserve jobs and capital," he added.
Jean-Marie Eveillard owns 14,000 shares as of 12/31/2008, which accounts for less than 0.01% of the $7.54 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC.
Sell: Director Brian J Cassidy sold 31,000 shares of MANH stock on 04/24/2009 at the average price of $15.92; the price of the stock has increased by 4.65% since.
Zoll Medical Corp. (ZOLL, Financial): Chairman and CEO Richard A Packer Bought 5,000 Shares
Chairman and CEO of Zoll Medical Corp. (ZOLL) Richard A Packer bought 5,000 shares on 04/27/2009 at an average price of $16.45. ZOLL Medical Corporation designs manufactures and markets an integrated line of proprietary noninvasive cardiac resuscitation devices external pacemaker/defibrillators disposable electrodes mobile ECG Systems and EMS data management solutions. The company has a market cap of $346.8 million; its shares were traded at around $16.45 with a P/E ratio of 18.3 and P/S ratio of 0.8. Zoll Medical Corp. had an annual average earning growth of 5.1% over the past 5 years.
Zoll recently reported its second quarter 2009 results, which were in line with the company's previous announcement about the results. The company posted revenues of about $93 million, down about 7% from last year's $99 million. Diluted earnings per share were $0.08, compared to $0.27 in the prior-year quarter. Commenting on second quarter results, Richard A. Packer, Chief Executive Officer of ZOLL, stated, “Unlike the first quarter of fiscal 2009, when we over-performed in our pre-hospital and International markets, our performance in those markets during Q2 was not enough to offset the reduced spending we continued to see in the North American hospital market. In addition, we received very little military business during the quarter. Taken together, and combined with the foreign exchange headwind, which cost us about 12 cents when compared to last year’s rates, we achieved only modest results this quarter.”
Brown & Brown Inc. (BRO, Financial): Chairman and CEO, 10% Owner Hyatt J Brown Bought 54,000 Shares
Chairman and CEO, 10% Owner of Brown & Brown Inc. (BRO) Hyatt J Brown bought 54,000 shares on 04/23/2009 at an average price of $18.95. Brown & Brown Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services as well as risk management third party administration managed health care and Medicare set-aside services and programs. The company has a market cap of $2.68 billion; its shares were traded at around $18.95 with a P/E ratio of 16.3 and P/S ratio of 2.7. The dividend yield of Brown & Brown Inc. stocks is 1.5%. Brown & Brown Inc. had an annual average earning growth of 25% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 4.5-star.
Arnold Schneider owns 1,524,923 shares as of 12/31/2008, an increase of 68.55% from the previous quarter. This position accounts for 2.28% of the $1.4 billion portfolio of Schneider Capital Management. Ruane Cunniff owns 4,781,518 shares as of 12/31/2008, a decrease of 35.6% of from the previous quarter. This position accounts for 1.43% of the $6.97 billion portfolio of Ruane & Cunniff & Goldfarb Inc. Chris Davis owns 113,764 shares as of 12/31/2008, a decrease of 85.66% of from the previous quarter. This position accounts for less than 0.01% of the $52.56 billion portfolio of Davis Selected Advisers.
Buy: Director Theodore J Jr Hoepner bought 10,000 shares of BRO stock on 03/06/2009 at the average price of $16; the price of the stock has increased by 18.44% since.
Globalstar Inc. (GSAT, Financial): CEO, 10% Owner James Iii Monroe Bought 746,269 Shares
CEO, 10% Owner of Globalstar Inc. (GSAT) James Iii Monroe bought 746,269 shares on 04/29/2009 at an average price of $0.63. GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar has a market cap of $86.6 million; its shares were traded at around $0.63 with and P/S ratio of 1.1.
Globalstar Inc. recently reported its fourth quarter and full year 2008 results. The company announced that its revenue was $86.1 million. However, the company posted a net loss of $68 million, or $.79 per share. These results all dropped compared to the results for the full year of 2007. “We believe that Globalstar is only months away from taking delivery of the first of our second-generation satellites, paving the way for the return of high quality Globalstar satellite services for customers of our legacy voice and duplex data products,” said Jay Monroe, Chairman and Chief Executive Officer, Globalstar, Inc. Mr. Monroe added, “In 2010 we expect to complete the deployment of the initial phase of our second-generation constellation that is designed to provide high quality advanced satellite services beyond 2025. Most importantly, we expect that completing the deployment of our satellites on schedule will provide us with nearly a six-year second-generation head start based on the current plans of our present primary MSS competitor.”
Prospect Capital Corp. (PSEC, Financial): CEO John F Barry Bought 32,795 Shares
CEO of Prospect Capital Corp. (PSEC) John F Barry bought 32,795 shares on 04/23/2009 at an average price of $9.15. Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. The company has a market cap of $286.3 million; its shares were traded at around $9.15 with a P/E ratio of 4 and P/S ratio of 3.6. The dividend yield of Prospect Capital Corp. stocks is 17.6%.
PSEC recently reported its fourth quarter results for 2008. During the second half of 2008, net assets decreased by $1,820 from $429,623 as of the first half of 2008 to $427,803 as of 2008's second half. This net decrease in assets resulted from a $20,522 increase from operations, offset by $23,848 in dividends declared to the company's stockholders.
Buy: CFO & CCO Brian H Oswald bought 1,000 shares of PSEC stock on 02/17/2009 at the average price of $8.5; the price of the stock has increased by 7.65% since.
Manhattan Associates Inc. (MANH, Financial): President, CEO & Director Peter F Sinisgalli Bought 10,000 Shares
President, CEO & Director of Manhattan Associates Inc. (MANH) Peter F Sinisgalli bought 10,000 shares on 04/24/2009 at an average price of $16.66. Manhattan Associates is a leading provider of technology-based solutions toimprove supply chain effectiveness and efficiencies. The company has a market cap of $392.5 million; its shares were traded at around $16.66 with a P/E ratio of 18.3 and P/S ratio of 1.1. Manhattan Associates Inc. had an annual average earning growth of 33.3% over the past 10 years. GuruFocus rated Manhattan Associates Inc. the business predictability rank of 2.5-star.
Manhattan Associates Inc. recently reported its first quarter results. The company reported earnings per share of 1 cent. First quarter revenue was $60.8 million, about 31% lower than the overall revenue posted in the first quarter of 2008, therefore causing a decline in EPS. "Given our first quarter results — and the revisions most economists have made to their outlooks for the remainder of 2009 — we have lowered our revenue expectations for the year," Sinisgalli continued. "To partially offset our lower revenue forecast, we have eliminated about 100 positions where we have excess capacity, and have taken other actions for the balance of 2009 to reduce costs. These are: reducing the compensation of executive management and our board of directors; implementing an unpaid time-off plan for employees in the United States; suspending our 401(k) match; and taking other actions around the world to preserve jobs and capital," he added.
Jean-Marie Eveillard owns 14,000 shares as of 12/31/2008, which accounts for less than 0.01% of the $7.54 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC.
Sell: Director Brian J Cassidy sold 31,000 shares of MANH stock on 04/24/2009 at the average price of $15.92; the price of the stock has increased by 4.65% since.
Zoll Medical Corp. (ZOLL, Financial): Chairman and CEO Richard A Packer Bought 5,000 Shares
Chairman and CEO of Zoll Medical Corp. (ZOLL) Richard A Packer bought 5,000 shares on 04/27/2009 at an average price of $16.45. ZOLL Medical Corporation designs manufactures and markets an integrated line of proprietary noninvasive cardiac resuscitation devices external pacemaker/defibrillators disposable electrodes mobile ECG Systems and EMS data management solutions. The company has a market cap of $346.8 million; its shares were traded at around $16.45 with a P/E ratio of 18.3 and P/S ratio of 0.8. Zoll Medical Corp. had an annual average earning growth of 5.1% over the past 5 years.
Zoll recently reported its second quarter 2009 results, which were in line with the company's previous announcement about the results. The company posted revenues of about $93 million, down about 7% from last year's $99 million. Diluted earnings per share were $0.08, compared to $0.27 in the prior-year quarter. Commenting on second quarter results, Richard A. Packer, Chief Executive Officer of ZOLL, stated, “Unlike the first quarter of fiscal 2009, when we over-performed in our pre-hospital and International markets, our performance in those markets during Q2 was not enough to offset the reduced spending we continued to see in the North American hospital market. In addition, we received very little military business during the quarter. Taken together, and combined with the foreign exchange headwind, which cost us about 12 cents when compared to last year’s rates, we achieved only modest results this quarter.”
