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Weekly CEO Buys Highlight: Prospect Capital Corp, CONSTELLATION ENERGY, Optimer Pharmaceuticals Inc, MBIA Inc, Enterprise Bancorp Inc.

November 30, 2009 | About:
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guruyt

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Last week’s top five stocks that were bought by their CEOs were Prospect Capital Corp (PSEC), CONSTELLATION ENERGY (CEP), Optimer Pharmaceuticals Inc (OPTR), MBIA Inc (MBI), and Enterprise Bancorp Inc (EBTC). According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Prospect Capital Corp. (PSEC): CEO John F Barry Bought 34,136 Shares

CEO of Prospect Capital Corp. (PSEC) John F Barry bought 34,136 shares on 11/19/2009 at an average price of $10.77. Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments. Prospect Capital Corp. has a market cap of $558.6 million; its shares were traded at around $10.77 with a P/E ratio of 10.7 and P/S ratio of 5.6. The dividend yield of Prospect Capital Corp. stocks is 15.1%.

Prospect Capital Corp recently reported its third quarter results. The company announced that net investment income was $12.3 million, or 25 cents per weighted average number of shares for the quarter.

Buy:: COO M Grier Eliasek bought 9,500 shares of PSEC stock on 11/18/2009 at the average price of 10.7, the price of the stock has increased by 0.65% since. Many other insiders have also increased their positions in the company.

CONSTELLATION ENERGY (CEP): President, CEO and COO Stephen R Brunner Bought 50,000 Shares

President, CEO and COO of CONSTELLATION ENERGY (CEP) Stephen R Brunner bought 50,000 shares on 11/19/2009 at an average price of $3.34. CONSTELLATION ENERGY PARTNERS LLC, is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets. Constellation Energy has a market cap of $73.9 million; its shares were traded at around $3.34 with a P/E ratio of 5.2 and P/S ratio of 0.5.

Constellation Energy recently reported adjusted earnings of $1.23 per share for the third quarter of 2009, compared with adjusted earnings of $0.76 per share in the same period last year. Adjusted earnings exclude the cumulative effects of changes in accounting principles, discontinued operations and special items (which are defined as significant items that are not related to our ongoing, underlying business or which distort comparability of results). On a generally accepted accounting principles (GAAP) basis, the company reported earnings of $0.69 per share for the third quarter of 2009, compared with a loss of $1.27 per share in the third quarter of 2008. Year-over-year GAAP results were driven primarily by the absence of impairment charges recorded during the third quarter of 2008.

Optimer Pharmaceuticals Inc. (OPTR): CEO and President Michael N Chang Bought 15,000 Shares

CEO and President of Optimer Pharmaceuticals Inc. (OPTR) Michael N Chang bought 15,000 shares on 11/25/2009 at an average price of $11.26. OPTIMER PHARMACEUTICALS, INC. is a biopharmaceutical company focused on discovering, developing & commercializing innovative anti-infective products for the treatment of serious infections. Optimer Pharmaceuticals Inc. has a market cap of $372.8 million; its shares were traded at around $11.26 with and P/S ratio of 364.3.

Optimer recently reported its third quarter results. The company reported financial results for the third quarter ended September 30, 2009. Optimer reported a net loss for the third quarter of 2009 of $9.4 million, or $0.28 per share, which was in line with the Company's expectations. This compares to a net loss for the third quarter of 2008 of $9.2 million, or $0.31 per share. Research and development expenses in the third quarter of 2009 were $7.2 million, compared to $7.9 million in the third quarter of 2008.

Buy:: COO and SVP Tessie M Che bought 15,000 shares of OPTR stock on 11/25/2009 at the average price of 11.52, the price of the stock has decreased by 2.26% since.

MBIA Inc. (MBI): Chairman and CEO Joseph W Brown Bought 50,000 Shares

Chairman and CEO of MBIA Inc. (MBI) Joseph W Brown bought 50,000 shares on 11/25/2009 at an average price of $3.4. MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Mbia Inc. has a market cap of $707.1 million; its shares were traded at around $3.4 with and P/S ratio of 0.2. Mbia Inc. had an annual average earning growth of 18.9% over the past 10 years.

MBIA recently reported Adjusted Book Value (ABV) per share (a non-GAAP measure) of $39.05 as of September 30, 2009, compared with $40.06 as of December 31, 2008. ABV declined slightly over the first nine months of 2009 as increased credit impairments on insured credit derivatives, other-than-temporary impairments of invested assets and insurance incurred losses outpaced earnings from premiums and investment income.

George Soros bought 46,400 shares in the quarter that ended on 09/30/2009, which is 0.01% of the $4.41 billion portfolio of Soros Fund Management LLC. Irving Kahn owns 2,407,387 shares as of 09/30/2009, which accounts for 4.2% of the $445 million portfolio of Kahn Brothers & Company Inc.. Martin Whitman owns 19,349,845 shares as of 07/31/2009, which accounts for 1.73% of the $4.7 billion portfolio of Third Avenue Value Fund. Chris Davis owns 178,832 shares as of 09/30/2009, which accounts for less than 0.01% of the $61.3 billion portfolio of Davis Selected Advisers. Third Avenue Management owns 18,068,337 shares as of 09/30/2009, which accounts for 2.65% of the $5.3 billion portfolio of Third Avenue Management. Enterprise Bancorp Inc (EBTC): CEO John P Jr Clancy Bought 14,102 Shares

CEO of Enterprise Bancorp Inc (EBTC) John P Jr Clancy bought 14,102 shares on 11/19/2009 at an average price of $10.55. Enterprise Bancorp is the holding company for Enterprise Bank and Trust Company. The bank has two wholly owned subsidiaries, Enterprise Insurance Services LLC and Enterprise Investment Services LLC, organized for the purpose of engaging in insurance sales activities and offering non-deposit investment products and related securities brokerage services to its customers. Enterprise Bancorp Inc has a market cap of $86.7 million; its shares were traded at around $10.55 with a P/E ratio of 16.5 and P/S ratio of 1.2. The dividend yield of Enterprise Bancorp Inc stocks is 3.6%.

Buy:: EVP & CFO James A Marcotte bought 2,500 shares of EBTC stock on 11/19/2009 at the average price of 10.85, the price of the stock has decreased by 2.76% 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.

  • 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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