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Weekly CEO Buys Highlight: Whitney Holding Corp, Acorn Energy Inc, Mitcham Industries Inc, Nara Bancorp Inc, OceanFirst Financial Corp.

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Last week's top five stocks that were bought by their CEOs were Whitney Holding Corp, Acorn Energy Inc, Mitcham Industries Inc, Nara Bancorp Inc, and OceanFirst Financial Corp. According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Whitney Holding Corp. (WTNY): Chairman of the Board and CEO John C Iii Hope Bought 30,000 Shares

Chairman of the Board and CEO of Whitney Holding Corp. (WTNY) John C Iii Hope bought 30,000 shares on 10/27/2009 at an average price of $8.03. WHITNEY HOLDING CORP. is a Louisiana bank holding company registered pursuant to the Bank Holding Company Act of 1956. The Company has a market cap of $543.6 million; its shares were traded at around $8.03 with and P/S ratio of 0.7. The dividend yield of Whitney Holding Corp. stocks is 0.5%. Whitney Holding Corp. had an annual average earning growth of 5.7% over the past 10 years.

Whitney recently reported its third quarter 2009 results. The company announced that it recorded a net loss of $30.0 million for the third quarter of 2009 compared to a net loss of $21.3 million for the second quarter of 2009.“Whitney is a strong franchise that continues to report a stable core deposit base and a top ranked net interest margin,” said John C. Hope, III, Chairman and CEO. “Our loan portfolio outside of Florida is performing in line with our expectations despite increasing levels of stress from the overall economic environment and we are managing all problem areas aggressively. While addressing credit issues is currently our top priority, we remain committed to our Strategic Plan with the goal of creating long-term value for our shareholders.”

Private Capital owns 1,022,905 shares as of 06/30/2009, a decrease of 27.4% of from the previous quarter. This position accounts for 0.65% of the $1.44 billion portfolio of Private Capital Management.

Buy:: Director on 10/27/2009 Kathryn M Sullivan bought 2,500 shares of WTNY stock at the average price of 8, the price of the stock has increased by 0.38% since. Many other insiders have also increased their positions in the company.

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 $6.99. 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 aims to take primarily controlling positions in companies led by great entrepreneurs & add value by supporting those companies with br&ing positioning strategy & business development. Acorn Energy is a global company with equity interests in Comverge the leading clean capacity provider of energy solutions through demand response; CoaLogix Inc. & its subsidiary SCR-Tech LLC the leading provider of catalyst regeneration technologies & services; Gridsense a pioneer in remote monitoring & control of the electric grid; Paketeria AG a German super services provider; dsIT a leader in underwater security systems for strategic coastal energy infrastructure; & Local Power Inc. the creator of Community Choice Aggregation. Acorn Energy Inc. has a market cap of $78.1 million; its shares were traded at around $6.99 with and P/S ratio of 3.8.

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:: Director on 10/28/2009 Richard S Rimer bought 5,000 shares of ACFN stock at the average price of 7.69, the price of the stock has decreased by 9.1% since. Many 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 $7.25. MITCHAM INDUSTRIES INC. specializes in the leasing and sale of seismic equipment to the oil and gas industry. Co. provides short-term leasing of peripheral seismic equipement to meet a customer's requirements as well as offering maintenance and support during the lease term. Mitcham Industries Inc. has a market cap of $71.1 million; its shares were traded at around $7.25 with a P/E ratio of 22.6 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.

Nara Bancorp Inc. (NARA): President & CEO Min J Kim Bought 6,667 Shares

President & CEO of Nara Bancorp Inc. (NARA) Min J Kim bought 6,667 shares on 10/27/2009 at an average price of $7.36. Nara Bancorp Inc. is a bank holding company for Nara Bank N.A. Nara Bancorp Inc. has a market cap of $193.2 million; its shares were traded at around $7.36 with and P/S ratio of 1.1. Nara Bancorp Inc. had an annual average earning growth of 22.2% over the past 5 years.

Nara recently reported its third quarter results. The company said that it reported net income available to common stockholders of $2.9 million, or $0.11 per diluted share, for third quarter 2009, compared to net income available to common stockholders of $5.0 million, or $0.19 per diluted share, for third quarter 2008, and a net loss available to common stockholders of $7.1 million, or ($0.27) per diluted share, for second quarter 2009.

Richard Pzena owns 1,771,341 shares as of 06/30/2009, which accounts for 0.11% of the $8.5 billion portfolio of Pzena Investment Management LLC.

Buy:: EVP and CFO on 10/27/2009 Alvin D Kang bought 2,667 shares of NARA stock at the average price of 7.5, the price of the stock has decreased by 1.87% since. Many other insiders have also increased their postilions in the company.

OceanFirst Financial Corp. (OCFC): Chairman, President and CEO John R Garbarino Bought 3,000 Shares

Chairman, President and CEO of OceanFirst Financial Corp. (OCFC) John R Garbarino bought 3,000 shares on 10/29/2009 at an average price of $9.5. OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. Oceanfirst Financial Corp. has a market cap of $117.6 million; its shares were traded at around $9.5 with a P/E ratio of 7.9 and P/S ratio of 1. The dividend yield of Oceanfirst Financial Corp. stocks is 8.5%. Oceanfirst Financial Corp. had an annual average earning growth of 7.2% over the past 10 years.

Private Capital owns 86,377 shares as of 06/30/2009, which accounts for 0.07% of the $1.44 billion portfolio of Private Capital Management.

Buy:: Senior VP/ Corporate Secretary on 10/29/2009 John K Kelly bought 800 shares of OCFC stock at the average price of 9, the price of the stock has increased by 5.56% since. Many other insiders have also increased their positions in the company.

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


Rating: 3.5/5 (2 votes)

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