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Weekly CFO Buy Highlights: Angiotech Pharmaceuticals, Seacoast Banking Corp., TranSwitch Corp., Apollo Investment Corp., AMN Healthcare Services, Micronetics Inc., Arrhythmia Research Technology

David Merkel

gurujk

5 followers
According to GuruFocus Insider Data, the largest CFO buys during the past week were Angiotech Pharmaceuticals Inc. (ANPI), Seacoast Banking Corp. of Florida (SBCF), TranSwitch Corp. (TXCC), Apollo Investment Corp. (AINV), AMN Healthcare Services Inc. (AHS), Micronetics Inc. (NOIZ), and Arrhythmia Research Technology Inc (HRT).

Angiotech Pharmaceuticals Inc. (ANPI): CFO K Thomas Bailey Bought 30,000 Shares

CFO of Angiotech Pharmaceuticals Inc. (ANPI) K Thomas Bailey bought 30,000 shares on 08/18/2009 at an average price of $1.67. Angiotech Pharmaceuticals Inc. is a Canadian pharmaceutical company dedicated to the development of medical device coatings and treatments for chronic inflammatory diseases through reformulation of the anticancer drug paclitaxel. These treatments are based upon the company's discovery that paclitaxel blocks an important cellular pathway involved in inflammation. The company's goal is to establish a leadership position in the development of treatments for chronic inflammatory diseases. Angiotech Pharmaceuticals Inc. has a market cap of $149 million; its shares were traded at around $1.75 with and P/S ratio of 0.5.

Buy: President & CEO William L Hunter bought 130,540 shares of ANPI stock on 03/16/2009 at the average price of $0.31, 83,500 shares of ANPI stock on 03/18/2009 at the average price of $0.35, 476,813 shares of ANPI stock on 05/04/2009 at the average price of $0.55, and 157,738 shares of ANPI stock on 05/05/2009 at the average price of $0.55; the price of the stock has increased by 218.18% since. Buy: SVP, Human Resources Tammy Neske bought 6,300 shares of ANPI stock on 08/14/2009 at the average price of $1.9; the price of the stock has decreased by 7.89% since. Buy: SVP, Research & Development Jeffrey M Gross bought 3,500 shares of ANPI stock on 08/14/2009 at the average price of $1.77; the price of the stock has decreased by 1.13% since. Buy: SVP, Finance Jay Bernard Dent bought 16,700 shares of ANPI stock on 08/13/2009 at the average price of $1.95; the price of the stock has decreased by 10.26% since. Buy: Director Arthur H Willms bought 25,000 shares of ANPI stock on 08/12/2009 at the average price of $1.92; the price of the stock has decreased by 8.85% since. Buy: SVP, Business Development Jonathan W Chen bought 11,100 shares of ANPI stock on 08/12/2009 at the average price of $1.77; the price of the stock has decreased by 1.13% since.

Seacoast Banking Corp. of Florida (SBCF): Exec. VP & CFO William R Hahl Bought 11,508 Shares

Exec. VP & CFO of Seacoast Banking Corp. of Florida (SBCF) William R Hahl bought 11,508 shares on 08/14/2009 at an average price of $2.25. Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services engages in consumer and commercial lending and provides a wide variety of trust and asset management services as well as securities and annuity products. Seacoast Banking Corp. Of Florida has a market cap of $54.4 million; its shares were traded at around $2.84 with and P/S ratio of 0.3.

Seacoast Banking Corp. of Florida recently reported fiscal results for its second quarter 2009 ended June 30, 2009. Net loss in the first quarter of 2009 was $14.1 million ($0.74 million per diluted share), compared to $21.3 million ($1.12 per diluted share) in the same quarter of the previous year.

SBCF is in the portfolios of Bruce Sherman of Private Capital Management. 

Buy: Chairman & CEO Dennis S III Hudson bought 88,886 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since. Buy: Director -Principal Subsidiary H Gilbert Jr Culbreth bought 10,664 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since. Buy: Director Thomas E Rossin bought 33,331 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since. Buy: Exec. VP & Pres. of Subsidiary O Jean Strickland bought 133,333 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since. Buy: Director Thomas H Jr Thurlow bought 44,440 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since. Buy: Director Edwin E III Walpole bought 44,444 shares of SBCF stock on 08/14/2009 at the average price of $2.25; the price of the stock has increased by 26.22% since.

TranSwitch Corp. (TXCC): CFO, Principal Acct Officer Robert A Bosi Bought 10,000 Shares

CFO, Principal Acct Officer of TranSwitch Corp. (TXCC) Robert A Bosi bought 10,000 shares on 08/18/2009 at an average price of $0.47. TranSwitch Corporation designs develops markets and supports highly integrated digital and mixed-signal semiconductor solutions for thetelecommunications and data communications markets. The company's mixed-signal and digital design capability in conjunction with its telecommunications systems expertise enables the company to determine and implement optimal combinations of design elements for desired analog and digital functionality. Transwitch Corp. has a market cap of $74.6 million; its shares were traded at around $0.4692 with and P/S ratio of 1.8.

Transwitch Corp. recently reported fiscal results for its second quarter 2009 ended July 30, 2009. Revenues in the second quarter of 2009 were $14.5 million, compared to $8.9 million in the same quarter previous year. Net loss in the first quarter of 2009 was $0.5 million ($0.00 per diluted share), compared to a loss of $4.1 million ($0.03 per diluted share) in the same quarter of the previous year.

Buy: VP, Business Development Theodore Chung bought 20,000 shares of TXCC stock on 08/12/2009 at the average price of $0.52; the price of the stock has decreased by 9.77% since. Buy: Director Thomas H Baer bought 10,000 shares of TXCC stock on 03/12/2009 at the average price of $0.21; the price of the stock has increased by 123.43% since. Buy: Director Michael Crawford bought 30,000 shares of TXCC stock on 03/09/2009 at the average price of $0.23; the price of the stock has increased by 104% since. Sell: Investment Management Ll Riley sold 40,679 shares of TXCC stock on 03/27/2009 at the average price of $0.3; the price of the stock has increased by 56.4% since. Sell: Investment Management Ll Riley sold 55,197 shares of TXCC stock on 03/23/2009 at the average price of $0.26; the price of the stock has increased by 80.46% since.

Apollo Investment Corp. (AINV): CFO and Treasurer Richard Peteka Bought 10,000 Shares

CFO and Treasurer of Apollo Investment Corp. (AINV) Richard Peteka bought 10,000 shares on 08/17/2009 at an average price of $8.8. Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company's investment portfolio will be principally in middle-market private companies. Apollo Investment Corp. has a market cap of $1.28 billion; its shares were traded at around $9.01 with a P/E ratio of 6.1 and P/S ratio of 3.5. The dividend yield of Apollo Investment Corp. stocks is 11.6%.

AINV is in the portfolios of David Williams of Columbia Value and Restructuring Fund. 

Buy: CEO James C Zelter bought 20,000 shares of AINV stock on 08/13/2009 at the average price of $8.83; the price of the stock has increased by 2.04% since. Buy: President and COO Patrick J Dalton bought 7,500 shares of AINV stock on 08/17/2009 at the average price of $8.71; the price of the stock has increased by 3.44% since. Buy: Director Ashok N Bakhru bought 5,000 shares of AINV stock on 06/05/2009 at the average price of $6.76; the price of the stock has increased by 33.28% since.

AMN Healthcare Services Inc. (AHS): CFO/CAO Bary Bailey Bought 6,000 Shares

CFO/CAO of AMN Healthcare Services Inc. (AHS) Bary Bailey bought 6,000 shares on 08/17/2009 at an average price of $8.26. AMN Healthcare Services Inc. is a leading temporary healthcare staffing company and the largest nationwide provider of travel nurse staffing services one of the fastest growing segments of the temporary healthcare staffing industry. Amn Healthcare Services Inc. has a market cap of $305 million; its shares were traded at around $9.35 with a P/E ratio of 11.8 and P/S ratio of 0.2. Amn Healthcare Services Inc. had an annual average earning growth of 5.7% over the past 5 years.

Micronetics Inc. (NOIZ): Acting CFO Carl Laurence Lueders Bought 8,134 Shares

Acting CFO of Micronetics Inc. (NOIZ) Carl Laurence Lueders bought 8,134 shares during the past week at an average price of $2.75. Micronetics operating through its Defense Electronics Group manufactures microwave and radio frequency components and integrated subassemblies used in a variety of defense aerospace and commercial applications. Operating through its Test Solutions Noise Products and VCO Products Groups Micronetics manufactures and designs test equipment and components that are utilized in or test the strength durability and integrity of communication signals in communications equipment. Micronetics Inc. has a market cap of $13.9 million; its shares were traded at around $3.08 with and P/S ratio of 0.4. Micronetics Inc. had an annual average earning growth of 9.8% over the past 5 years.

Micronetics Inc. recently reported fiscal results for its first quarter 2010 ended June 27, 2009. Revenues in the first quarter of 2010 were $7.9 million, compared to $7.1 million in the same quarter previous year. Net loss in the first quarter of 2010 was $12,065 ($0.00 per diluted share), compared to a net income of $157,606 ($0.03 per diluted share) in the same quarter of the previous year.

Buy: Acting CFO Carl Laurence Lueders bought 1,000 shares of NOIZ stock on 02/24/2009 at the average price of $2.5, 1,000 shares of NOIZ stock on 02/25/2009 at the average price of $2.5, 6,000 shares of NOIZ stock on 08/17/2009 at the average price of $2.75, and 2,134 shares of NOIZ stock on 08/19/2009 at the average price of $2.75; the price of the stock has increased by 12% since. Buy: President of Subsidiary Stephen N Jr Barthelmes bought 1,000 shares of NOIZ stock on 08/18/2009 at the average price of $2.7; the price of the stock has increased by 14.07% since. Buy: President Kevin P Beals bought 5,000 shares of NOIZ stock on 03/24/2009 at the average price of $2.25 and 5,000 shares of NOIZ stock on 08/17/2009 at the average price of $2.75; the price of the stock has increased by 12% since.

Arrhythmia Research Technology Inc (HRT): CFO David A Garrison Bought 5,000 Shares

CFO of Arrhythmia Research Technology Inc (HRT) David A Garrison bought 5,000 shares on 08/12/2009 at an average price of $3.27. Arrhythmia Research Technology Inc. a Delaware corporation is engaged in the development of medical software which acquires data and analyzes electrical impulses of the heart to detect and aid in the treatment of potentially lethal arrhythmias. The Company's patented products consist of signal-averaging electrocardiographic (SAECG) software whose proprietary Windows based version is named the Predictor series. These systems and product lines have defined the industry and clinical standards for high resolution electrocardiography. The Company through its wholly owned subsidiary Micron Products Inc. manufactures silver plated and non-silver plated conductive resin sensors and distributes metal snaps used in the manufacture of disposable ECG EEG EMS and TENS. It operates primarily in the United States Canada Europe and the Pacific Rim and is based in Fitchburg Massachusetts. Arrhythmia Research Technology Inc has a market cap of $8.3 million; its shares were traded at around $3.05 with and P/S ratio of 0.4. Arrhythmia Research Technology Inc had an annual average earning growth of 25.2% over the past 10 years.

Arrhythmia Research Technology recently reported fiscal results for its first quarter 2009 ended March 31, 2009. Revenues in the first quarter of 2009 were $4.7 million, compared to $5.5 million in the same quarter 2008. Net income in the first quarter of 2009 was $8,200 ($0.03 per diluted share), compared to $149,000 ($0.06 per diluted share) in the same quarter of 2008.

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

About the author:

gurujk
David J. Merkel, FSA, CFA, is the Chief Economist and Director of Research of Finacorp Securities. His specialty is looking at the interlinkages in the markets in order to understand individual markets better. He holds bachelor’s and master’s degrees from Johns Hopkins University. In his spare time, he takes care of his eight children with his wonderful wife Ruth.

Rating: 3.2/5 (6 votes)

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