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Weekly CEO Buy Highlights: Discover Financial Services, The Phoenix Companies Inc., Winmark Corp., The Greenbrier Companies Inc., Keithley Instruments Inc.

July 11, 2009 | About:
guruyt

guruyt

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Last week's top stocks that were bought by their CEOs were Discover Financial Services (DFS), The Phoenix Companies Inc. (PNX), Winmark Corp. (WINA), The Greenbrier Companies Inc. (GBX), Keithley Instruments Inc. (KEI). According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Discover Financial Services (DFS): Chairman and CEO David W Nelms Bought 120,000 Shares

Chairman and CEO of Discover Financial Services (DFS) David W Nelms bought 120,000 shares during the past week at an average price of $9.61. Discover Financial Services operates the Discover Card with more than fifty million card members the Discover Network with millions of merchant and cash access locations and the Goldfish credit card business in the United Kingdom. It has a market cap of $4.6 billion; its shares were traded at around $9.61 with and P/S ratio of 0.6. The dividend yield of Discover Financial Services stocks is 0.9%.

Discover Financial Services recently reported its second quarter 2009 results. The company announced that its net income was $226 million, up $24 million from results a year ago. “While the rise in unemployment continued to have a significant impact on our financial results, I am pleased with our strong relative performance in both credit management and sales volumes,” said David Nelms, chairman and chief executive officer of Discover Financial Services. “We continue to focus on reducing expenses and maintaining a strong capital position as we manage through these challenging times.”

David Einhorn bought 4,450,000 shares in the quarter that ended on 03/31/2009, which is 1.18% of the $2.38 billion portfolio of Greenlight Capital Inc. John Keeley owns 168,577 shares as of 03/31/2009, an increase of 15.17% from the previous quarter. This position accounts for 0.02% of the $4.75 billion portfolio of Keeley Fund Management. Richard Pzena owns 12,215 shares as of 03/31/2009, a decrease of 20.11% of from the previous quarter. This position accounts for less than 0.01% of the $6.95 billion portfolio of Pzena Investment Management LLC. Chris Davis sold out his holdings in the quarter that ended on 03/31/2009.

Sell: SVP,Chief Credit Risk Officer James V Panzarino sold 26,826 shares of DFS stock on 03/23/2009 at the average price of $5.83; the price of the stock has increased by 64.84% since.

Sell: Executive Vice President Carlos Minetti sold 190,610 shares of DFS stock on 03/23/2009 at the average price of $6.07; the price of the stock has increased by 58.32% since.

The Phoenix Companies Inc. (PNX): President & CEO James D Wehr Bought 55,300 Shares

President & CEO of The Phoenix Companies Inc. (PNX) James D Wehr bought 55,300 shares during the past week at an average price of $1.68. Phoenix Companies Inc. is leading provider of wealth management products and services offered through a variety of select advisors and financial services firms to serve the accumulation preservation and transfer needs of the affluent and high net worth market businesses and institutions. The company has a market cap of $203.8 million; its shares were traded at around $1.68 with a P/E ratio of 3 and P/S ratio of 0.1.

PNX recently reported its first quarter fiscal 2009 results. The company announced that it had a loss of 65 cents per share in the first quarter. Operating loss was $1 per share. "As we look at the first quarter's challenging results, we nevertheless see a company that has the capitalization, liquidity and financial flexibility to continue weathering severe economic conditions, despite new challenges presented by rating downgrades and the resulting suspension of sales by major distribution partners. From an earnings perspective, improvements from the fourth quarter were partially obscured by the magnitude of the increase to the tax valuation allowance, which can, ultimately, reverse as we work our way out of the current conditions," said James D. Wehr, president and chief executive officer.

Daniel Loeb owns 7,524,000 shares as of 03/31/2009, which accounts for 1.7% of the $516 million portfolio of Third Point, LLC. John Keeley sold out his holdings in the quarter that ended on 03/31/2009. Charles Brandes sold out his holdings in the quarter that ended on 03/31/2009. Third Avenue Management sold out his holdings in the quarter that ended on 03/31/2009.

Buy: Senior EVP Philip K Polkinghorn bought 2,500 shares of PNX stock on 05/06/2009 at the average price of $1.89; the price of the stock has decreased by 11.11% since.

Winmark Corp. (WINA): Chairman & CEO, 10% Owner John L Morgan Bought 2,000 Shares

Chairman & CEO, 10% Owner of Winmark Corp. (WINA) John L Morgan bought 2,000 shares on 07/02/2009 at an average price of $18.04. Winmark Corporation is a franchise company that franchises seven retail concepts which buy sell trade and consign merchandise. Each concept operates in a different industry and provides the consumer with 'ultra-high value' retailing. The company began franchising the Play It Again Sports store concept and through a series of acquisitions has expanded its operations. Winmark Corp. has a market cap of $84.1 million; its shares were traded at around $18.04 with a P/E ratio of 19.5 and P/S ratio of 2.3.

Winmark recently reported its first quarter 2009 results. The company reported that its net income was 26 cents per diluted share, compared to 17 cents per diluted share in the first quarter of 2008. John L. Morgan, Chairman and Chief Executive Officer, stated, “The growth in our first quarter profits was primarily due to the improved performance of Winmark Capital, as well as a tighter control of selling, general and administrative expenses across all of our businesses. We are pleased with our performance, but remain cautious about the current economic environment.”

Buy: President, Winmark Capital Steven C Zola bought 456 shares of WINA stock on 06/23/2009 at the average price of $15.5; the price of the stock has increased by 16.39% since. Many other insiders have also increased their positions in the company.

The Greenbrier Companies Inc. (GBX): President & CEO William A Furman Bought 4,800 Shares

President & CEO of The Greenbrier Companies Inc. (GBX) William A Furman bought 4,800 shares on 07/10/2009 at an average price of $6.08. Greenbrier Companies Inc. is a leading supplier of transportation equipment and services to the railroad and related industries. The manufacturing segment produces double-stack intermodal railcars conventional railcars and marine vessels and performs repair and refurbishment activities for both intermodal and conventional railcars. In addition to manufacturing they are engaged in complementary leasing and services activities. The Greenbrier Companies Inc. has a market cap of $105.6 million; its shares were traded at around $6.08 with a P/E ratio of 17 and P/S ratio of 0.1. The Greenbrier Companies Inc. had an annual average earning growth of 3.4% over the past 10 years.

The Greenbrier Companies recently reported its third quarter 2009 results. The company announced that its revenue was $244 million, down 36% from results from a year ago.

John Keeley owns 1,964,700 shares as of 03/31/2009, which accounts for 0.15% of the $4.75 billion portfolio of Keeley Fund Management.

Buy: EVP/Treasurer/CFO Mark J Rittenbaum bought 5,000 shares of GBX stock on 02/04/2009 at the average price of $5.62; the price of the stock has increased by 8.19% since.

Keithley Instruments Inc. (KEI): Director, Chairman, CEO, 10% Owner Joseph P Keithley Bought 2,651 Shares

Director, Chairman, CEO, 10% Owner of Keithley Instruments Inc. (KEI) Joseph P Keithley bought 2,651 shares on 07/08/2009 at an average price of $4. Keithley Instruments Inc. develop manufacture and sell measurement systems geared to the specialized needs of electronics manufacturers forhigh-performance production testing process monitoring product development and research. The company's primary products are computer-based systems or employ computer technology for control data storage display or analysis purposes. The company's customers are engineers technicians and scientists engaged in manufacturing product development and research functions within a range of industries. Keithley Instruments Inc. has a market cap of $58.9 million; its shares were traded at around $4 with and P/S ratio of 0.4. The dividend yield of Keithley Instruments Inc. stocks is 1.3%.

NWQ Managers owns 1,742,979 shares as of 03/31/2009, which accounts for 0.05% of the $12.77 billion portfolio of NWQ Investment Management Co.

Sell: Director Brian R Bachman sold 2,000 shares of KEI stock on 05/19/2009 at the average price of $4.11; the price of the stock has decreased by 2.68% since.

For the complete list of stocks that bought by their company CEOs, go to: CEO Buys.

  • 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.

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