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Weekly CEO Buys Highlight: DSW Inc, Sunstone Hotel Investors Inc, Progenics Pharmaceuticals Inc, Acorn Energy Inc, Mitcham Industries Inc.

October 24, 2009 | About:
guruyt

guruyt

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Last week's top five stocks that were bought by their CEOs were DSW Inc, Sunstone Hotel Investors Inc, Progenics Pharmaceuticals Inc, Acorn Energy Inc, and Mitcham Industries Inc. According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

DSW Inc. (DSW): President and CEO Michael R Macdonald Bought 10,000 Shares

President and CEO of DSW Inc. (DSW) Michael R Macdonald bought 10,000 shares on 10/19/2009 at an average price of $20.79. DSW is a specialty branded footwear retailer operating DSW stores and also supplies under supply arrangements to related retailers and to other non-related retailers in the United States. Dsw Inc. has a market cap of $831.2 million; its shares were traded at around $20.79 with a P/E ratio of 37.8 and P/S ratio of 0.6.

DSW Inc recently reported its second quarter results and raised its 2009 earnings guidance. The company reported that its net income was $7.6 million for the quarter, compared to a net income of $11 million for the second quarter of 2008. Diluted earnings per share were $0.17 for the second quarter of fiscal 2009 compared with diluted earnings per share of $0.25 last year.

Richard Snow owns 84,000 shares as of 06/30/2009, an increase of 170.97% from the previous quarter. This position accounts for 0.04% of the $1.96 billion portfolio of Snow Capital Management, L.P..

Sunstone Hotel Investors Inc. (SHO): President & CEO Arthur L Buser Bought 15,000 Shares

President & CEO of Sunstone Hotel Investors Inc. (SHO) Arthur L Buser bought 15,000 shares on 10/16/2009 at an average price of $8.14. Sunstone Hotel Investors Inc. is a Southern California-based lodging real estate company that expects to qualify as a real estate investment trust for federal income tax purposes. The Company owns hotels primarily in the upper-upscale and upscale segments primarily operated under franchises owned nationally-recognized companies such as Marriott Hilton InterContinental and Hyatt. Sunstone Hotel Investors Inc. has a market cap of $549.4 million; its shares were traded at around $8.14 with a P/E ratio of 3.9 and P/S ratio of 0.6.

Sunstone recently reported its second quarter 2009 results. The company announced that it increased its cash to $240 million, including restricted cash. The company also sold three non-core assets for $63.8 million. Its total revenue for the quarter was $186.8 million.

Sell:: CFO on 09/11/2009Kenneth Edward Cruse sold 26,139 shares of SHO stock at the average price of 6.81, the price of the stock has increased by 19.53% since.

Progenics Pharmaceuticals Inc. (PGNX): CEO/CSO, 10% Owner Paul J Maddon Bought 18,500 Shares

CEO/CSO, 10% Owner of Progenics Pharmaceuticals Inc. (PGNX) Paul J Maddon bought 18,500 shares on 10/16/2009 at an average price of $4.46. Progenics Pharmaceuticals Inc. is a biopharmaceutical company focusing on the development & commercialization of innovative therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. Progenics Pharmaceuticals Inc. has a market cap of $137 million; its shares were traded at around $4.46 with and P/S ratio of 2.1.

Progenics Pharmaceuticals Inc recently reported its second quarter 2009 results. The company announced that its net loss for the second quarter of 2009 was $15.2 million or $0.49, basic and diluted, per share, compared to $2.4 million or $0.08, basic and diluted, per share in the second quarter of 2008. Net loss for the six months ended June 30, 2009 was $17.0 million or $0.55, basic and diluted, per share, compared to $17.9 million or $0.60, basic and diluted, per share for the first half of 2008.

Sell:: CFO on 06/19/2009Robert A Mckinney sold 5,000 shares of PGNX stock at the average price of 5.25, the price of the stock has decreased by 15.05% since.

Acorn Energy Inc. (ACFN): President and CEO John A Moore Bought 10,000 Shares

President and CEO of Acorn Energy Inc. (ACFN) John A Moore bought 10,000 shares on 10/22/2009 at an average price of $7.1. Acorn Energy Inc. (formerly known as Acorn Factor Inc.) specializes in acquiring & accelerating the growth of emerging ventures that promise improvement in the economic & environmental efficiency of the energy sector. Acorn Energy has a market cap of $70.2 million; its shares were traded at around $7.1 with and P/S ratio of 3.4.

Acorn Energy recently reported its second quarter results. The company announced that its revenue was up 116% to $7.78 million, and its quarterly and six month gross profit also increased by 238% and 183% respectively.

Buy:: VP, General Counsel, Secretary on 10/05/2009Joe B. Jr. Cogdell bought 2,000 shares of ACFN stock at the average price of 5.34, the price of the stock has increased by 32.96% since. Other insiders have also increased their positions in the company.

Mitcham Industries Inc. (MIND): CEO & President Billy F Jr Mitcham Bought 7,500 Shares

CEO & President of Mitcham Industries Inc. (MIND) Billy F Jr Mitcham bought 7,500 shares on 10/22/2009 at an average price of $7.5799. MITCHAM INDUSTRIES INC. specializes in the leasing and sale of seismic equipment to the oil and gas industry. Mitcham Industries Inc. has a market cap of $68.9 million; its shares were traded at around $7.5799 with a P/E ratio of 21.9 and P/S ratio of 1.1. Mitcham Industries Inc. had an annual average earning growth of 2.1% over the past 10 years.

Mitcham Industries recently reported its second quarter fiscal 2010 results. The company announced that its total revenues for the second quarter of fiscal 2010 were $12.7 million compared to $17.5 million in the second quarter of fiscal 2009. The Company also reported a net loss of $1.0 million, or $0.10 per share, for the second quarter of fiscal 2010 compared to net income of $1.6 million, or $0.16 per diluted share, for the second quarter of fiscal 2009.

John Rogers bought 24,280 shares in the quarter that ended on 06/30/2009, which is less than 0.01% of the $3.7 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC.

Buy:: Director on 10/21/2009Peter H Blum bought 7,800 shares of MIND stock at the average price of 6.88, the price of the stock has increased by 10.17% 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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