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Weekly CFO Buys Highlight: NMT Medical Inc., American Axle & Manufacturing Holdings I, Sprint Nextel Corp.,Asta Funding Inc., MagneTek Inc.

February 21, 2010 | About:
According to GuruFocus Insider Data, these are the largest CFO buys during the past week- NMT Medical Inc., American Axle & Manufacturing Holdings I, Sprint Nextel Corp.,Asta Funding Inc., MagneTek Inc.,

NMT Medical Inc. (NMTI): COO & CFO Richard E Davis Bought 11,650 Shares

COO & CFO of NMT Medical Inc. (NMTI) Richard E Davis bought 11,650 shares on 02/16/2010 at an average price of $2.15.

NMT Medical Inc. designs, develops and markets medical devices that utilize advanced technologies and are delivered by minimally invasive procedures. NMT Medical Inc. has a market cap of $32 million; its shares were traded at around $2.43 with and P/S ratio of 1.7. NMT Medical Inc. had an annual average earning growth of 110.5% over the past 5 years.

On February 10, NMT Medical Inc. announced that it expects to report full year 2009 revenues of approximately $13.2 million - within the Company's previously-announced guidance range of $13 million to $14 million. For the fourth quarter of 2009, NMT expects to report revenues of approximately $3.6 million compared with $3.0 million in the third quarter of 2009 and $4.4 million in the year-ago quarter. Detailed results are going to be released on March 22, 2010.

NMTI is in the portfolios of Chuck Royce of ROYCE & ASSOCIATES.

COO & CFO Richard E Davis, Director James J Jr Mahoney, Director Daniel F Md Hanley, and 10% Owner Advisors Llc Glenhill recently bought the company’s stock.

American Axle & Manufacturing Holdings I (AXL): EVP-Finance & CFO Michael K Simonte Bought 5,000 Shares

EVP-Finance & CFO of American Axle & Manufacturing Holdings I (AXL) Michael K Simonte bought 5,000 shares on 02/11/2010 at an average price of $8.54.

American Axle & Manufacturing Holdings Inc. designs, engineers and manufactures driveline systems for light trucks and sport utility vehicles. American Axle & Manufacturing Holdings I has a market cap of $628.2 million; its shares were traded at around $9.03 with and P/S ratio of 0.4.

American Axle & Manufacturing Holdings, Inc. reported its financial results for the fourth quarter. Fourth quarter sales of $464.0 million were 13% higher than the third quarter of 2009. Net income of $48.6 million, or $0.80 per share, marks AAM's second consecutive profitable quarter.

AXL is in the portfolios of Arnold Schneider of Schneider Capital Management, Paul Tudor Jones of The Tudor Group, George Soros of Soros Fund Management LLC.

Recently, EVP-Finance & CFO Michael K Simonte and Director Salvatore J. Sr. Bonanno bought the company’s stock. Whereas VP, AAM Americas Curt S Howell, VP-Mtl Logistics & Labor Rel. John E Jerge, VP-Commercial Vehicle B.U. John S Sofia, and EVP CAO and Secretary Patrick S Lancaster sold the company’s stock.

Sprint Nextel Corp. (S): CFO Robert H Brust Bought 3,075 Shares

CFO of Sprint Nextel Corp. (S) Robert H Brust bought 3,075 shares on 02/17/2010 at an average price of $3.2.

Sprint Nextel offers wireless and wireline communications services to consumer, business and government customers. Sprint Nextel Corp. Series 1 has a market cap of $10.04 billion; its shares were traded at around $3.49 with and P/S ratio of 0.3.

On February 10, 2010, Sprint Nextel Corp. reported fourth quarter and full-year 2009 financial results. The company generated $666 million of Free Cash Flow* in the quarter, and $2.8 billion for full-year 2009, the highest annual Free Cash Flow* since the Sprint Nextel merger. The company reported fourth quarter consolidated net operating revenues of almost $7.9 billion, a net loss of $980 million, which includes a non-cash $306 million charge to increase the valuation allowance on deferred taxes, and a diluted loss per share of 34 cents. Full-year 2009 results included consolidated net operating revenues of $32.3 billion and a diluted loss per share of 84 cents.

S is in the portfolios of Private Capital of Private Capital Management, Bill Miller of Legg Mason Value Trust, Dodge & Cox, Bill Miller of Legg Mason Value Trust, Brian Rogers of T Rowe Price Equity Income Fund, PRIMECAP Management, John Paulson of Paulson & Co., Bruce Kovner of Caxton Associates, George Soros of Soros Fund Management LLC, Paul Tudor Jones of The Tudor Group, Kenneth Fisher of Fisher Asset Management, LLC, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC.

President-Prepaid Daniel H Schulman and President-4G Matthew Carter Jr. sold the company’s stock recently.

Asta Funding Inc. (ASFI): CFO Robert J Michel Bought 3,000 Shares

CFO of Asta Funding Inc. (ASFI) Robert J Michel bought 3,000 shares on 02/12/2010 at an average price of $7.44.

Asta Funding, Inc. is a consumer finance company specializing in the business of purchasing, selling and servicing retail automobile installment contracts originated by dealers in the sale primarily of used automobiles. Asta Funding Inc. has a market cap of $102 million; its shares were traded at around $7.15 with a P/E ratio of 10.1 and P/S ratio of 1.4. The dividend yield of Asta Funding Inc. stocks is 1.1%. Asta Funding Inc. had an annual average earning growth of 42.6% over the past 5 years. GuruFocus rated Asta Funding Inc. the business predictability rank of 2.5-star.

For the three months ended December 31, 2009, the Company reported net income of $2,475,000, or $0.17 per diluted share, as compared to a net loss of $7,837,000, or $0.55 per share for the comparable period of fiscal year 2009. Total revenue was $11,007,000 for the quarter ended December 31, 2009, as compared to $18,448,000 for the three months ended December 31, 2008.

MagneTek Inc. (MAG): Vice President & CFO Marty J Schwenner Bought 7,400 Shares

Vice President & CFO of MagneTek Inc. (MAG) Marty J Schwenner bought 7,400 shares during the past week at an average price of $1.41.

Magnetek, Inc. manufactures digital power and motion control systems used in material handling, people moving, wireless communications and energy delivery. Magnetek Inc. has a market cap of $45.2 million; its shares were traded at around $1.46 with and P/S ratio of 0.5.

Magnetek, Inc. reported the results of its fiscal 2010 second quarter ended December 27, 2009. In its fiscal 2010 second quarter Magnetek recorded revenue of $19.2 million, an 8% sequential increase from the first quarter of fiscal 2010, but a 28% decrease from the second quarter fiscal 2009 sales of $26.8 million. The Company recorded a loss from continuing operations in the second quarter of fiscal 2010 of $0.9 million, or a $.03 loss per share versus income from continuing operations of $1.3 million, or $.04 earnings per share for the fiscal 2009 second quarter.

MAG is in the portfolios of Chuck Royce of ROYCE & ASSOCIATES, John Keeley of Keeley Fund Management.

President & CEO Peter M Mccormick, Vice President & CFO Marty J Schwenner, and Director David P Reiland all bought the company’s stocks.

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

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