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Weekly CEO Buys Highlight: GHL ACQUISITION CORP, Seagate Technology, The Steak n Shake Company, TBS International Ltd, Foot Locker Inc.

August 28, 2009 | About:
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According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

GHL ACQUISITION CORP (GHQ): CEO Scott L Bok Bought 218,300 Shares

CEO of GHL ACQUISITION CORP (GHQ) Scott L Bok bought 218,300 shares during the past week at an average price of $9.97. GHL ACQUISITION CORP. is a newly formed blank check company organized for the purpose of effecting a merger capital stock exchange asset acquisition stock purchase reorganization or other similar business combination with one or more businesses or assets which they refer to as their initial business combination. The Company has a market cap of $483.5 million; its shares were traded at around $9.97 .

Jean-Marie Eveillard bought 363,900 shares in the quarter that ended on 06/30/2009, which is 0.04% of the $8.91 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. Seth Klarman sold out his holdings in the quarter that ended on 06/30/2009.

Buy: Senior Vice President Robert H Niehaus bought 25,100 shares of GHQ stock on 06/30/2009 at the average price of $9.79; the price of the stock has increased by 1.84% since.

Seagate Technology (STX): Chairman, President and CEO Stephen J Luczo Bought 100,000 Shares

Chairman, President and CEO of Seagate Technology (STX) Stephen J Luczo bought 100,000 shares on 08/25/2009 at an average price of $14.02. Seagate Technology is the worldwide leader in the design manufacture and marketing of hard disc drives providing products for a wide-range of applications including Enterprise Desktop Mobile Computing Consumer Electronics and Branded Solutions. Seagate has a market cap of $6.89 billion; its shares were traded at around $14.02 with and P/S ratio of 0.7. Seagate Technology had an annual average earning growth of 21.1% over the past 5 years.

Seagate recently reported its fourth quarter and year-end fiscal 2009 results. The company announced that it had a revnue was $2.35 billion, and a net loss of 16 cents per share, or $81 million. “The overall organizational, operational, technical and product progress we have made during the last six months is reflected in our financial results for the June quarter and demonstrates meaningful progress toward the goal of returning to sustained GAAP profitability as soon as possible,” said Steve Luczo, Seagate CEO. “We are also seeing signs that the storage markets are improving and are providing better visibility into the demand environment. Our approach to the September quarter with respect to our production volumes and product mix is to continue to manage our factories with an intense focus on maximizing our return on invested capital while satisfying our customers’ requirements."

John Hussman bought 250,000 shares in the quarter that ended on 06/30/2009, which is 0.05% of the $5.08 billion portfolio of Hussman Economtrics Advisors, Inc.. Charles Brandes owns 1,801,672 shares as of 06/30/2009, a decrease of 27.62% of from the previous quarter. This position accounts for 0.1% of the $18.33 billion portfolio of Brandes Investment. Arnold Van Den Berg owns 864,480 shares as of 06/30/2009, a decrease of 56.62% of from the previous quarter. This position accounts for 0.63% of the $1.43 billion portfolio of Century Management.

Buy: SVP, DRIVE OPS & MATERIALS Douglas J Dehaan bought 150,000 shares of STX stock on 05/20/2009 at the average price of $8.24; the price of the stock has increased by 70.15% since. Other insiders have decreased their positions in the company.

The Steak n Shake Company (SNS): CEO Sardar Biglari, Bought 107,500 Shares

CEO of The Steak n Shake Company (SNS) Sardar Biglari, bought 107,500 shares on 08/21/2009 at an average price of $11.05. Steak n Shake is a full service casual dining restaurant serving a core menu of its famous Steakburger sandwiches thin 'n crispy french fries old fashioned hand-dipped milk shakes chili home style soups fresh salads a variety of desserts and breakfast. It has a market cap of $317.9 million; its shares were traded at around $11.05 with and P/S ratio of 0.5. The Steak N Shake Company had an annual average earning growth of 5.6% over the past 10 years.

SNS recently reported its third quarter 2009 results. The company announced that its net earnings for the quarter were $3.8 million, or 13 cents per diluted share, compared to a net loss of 35 cents per diluted share in the third quarter of 2008.

John Rogers bought 23,495 shares in the quarter that ended on 06/30/2009, which is 0.01% of the $3.7 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. John Keeley sold out his holdings in the quarter that ended on 06/30/2009.

Buy: Director William Joseph Regan bought 500 shares of SNS stock on 05/06/2009 at the average price of $11.5; the price of the stock has decreased by 3.91% since. Other insiders have also increased their positions in the company.

TBS International Ltd. (TBSI): President and CEO, 10% Owner Joseph E Royce Bought 65,000 Shares

President and CEO, 10% Owner of TBS International Ltd. (TBSI) Joseph E Royce bought 65,000 shares on 08/24/2009 at an average price of $8.4. TBS is an ocean transportation services company that offers worldwide shipping solutions through liner parcel bulk and vessel chartering services. TBS has developed its business around key trade routes between Latin America and China Japan and South Korea as well as select ports in North America Africa and the Caribbean. TBS provides frequent regularly scheduled voyages in its network as well as cargo scheduling loading and discharge for its customers. Tbs International Ltd. has a market cap of $251.1 million; its shares were traded at around $8.4 with a P/E ratio of 4.5 and P/S ratio of 0.4.

TBS recently reported its second quarter and first 6 months 2009 results. The company announced that its revenue for the quarter was $72 million, comapred to $156 million in the second quarter of 2008. For the six months that ended in the second quarter, revenue was $143 million, compared to $288 million. Joseph E. Royce, Chairman and Chief Executive Officer and President, stated: "The second quarter of 2009 continued to be very challenging for TBS, and the Handymax/Handysize and General Cargo segment of the Dry Cargo Shipping Industry. For the first six months of 2009 our revenues and EBITDA declined significantly and we experienced a Net Loss, as the stimulus packages adopted by several governments around the world had not yet positively affected cargo movement and freight rates in our segment of the dry cargo transportation industry. We anticipated these financial results and, accordingly, prepaid all principal payments due on our debt through the end of 2009. Additionally, our cash balance on June 30, 2009 was $52.5 million, plus $15.2 million on deposit to cover the remaining 2009 stage advances on construction of the six Roymar Class multipurpose tweendeckers in China.”

Buy: Senior Exec. Vice President Lawrence A Blatte bought 25,000 shares of TBSI stock on 08/25/2009 at the average price of $6.99; the price of the stock has increased by 20.17% since. Other insiders have increased their positions in the company.

Foot Locker Inc. (FL): President and CEO Ken C Hicks Bought 40,000 Shares

President and CEO of Foot Locker Inc. (FL) Ken C Hicks bought 40,000 shares on 08/27/2009 at an average price of $11.11. Foot Locker Inc. is a leading global retailer operating primarily mall-based stores in North America Europe Asia and Australia. The company has a market cap of $1.73 billion; its shares were traded at around $11.11 with a P/E ratio of 17.9 and P/S ratio of 0.3. The dividend yield of Foot Locker Inc. stocks is 5.3%. Foot Locker Inc. had an annual average earning growth of 18.8% over the past 10 years.

Foot Locker Inc. recently reported its second quarter results. The company announced that its net income was $18 million, or 11 cents per share for the quarter. Sales declined about 16%, compared with results a year ago. Comparable Store Sales decreased 12%.

Robert Rodriguez owns 2,420,816 shares as of 06/30/2009, which accounts for 3.63% of the $697 million portfolio of FPA Capital.

Buy: Director Matthew M Mckenna bought 9,700 shares of FL stock on 08/26/2009 at the average price of $10.25; the price of the stock has increased by 8.39% 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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