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Joy Hu
Joy Hu
Articles (406) 

Weekly CEO Buys Highlight

Details the CEO buys this past week for the following companies: Odonate Therapeutics, Golub Capital BDC, PBF Energy and Progress Software

October 05, 2020 | About:

According to GuruFocus Insider Data, these were the largest CEO buys during the past week.

Odonate Therapeutics

Odonate Therapeutics Inc. (NASDAQ:ODT) CEO and 10% Owner Kevin C. Tang bought 110,882 shares on Sept. 29 at a price of $13.13. The price of the stock has increased by 11.65% since then.

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Odonate Therapeutics is a U.S.-based pharmaceutical company that is engaged in the development of therapeutics that improve and extend the lives of patients with cancer. The company mainly focuses on the development of tesetaxel, a novel chemotherapy agent that belongs to a class of drugs, taxanes, which are widely used in the treatment of cancer.

The company has a market cap of $565.63 million. Its shares traded at $14.66 as of Oct. 2.

For the three months ended June 30, the net loss was $33.4 million compared to a loss of $28.7 million for the same period in 2019.

Director and 10% Owner Aaron I. Davis bought 225,000 shares on Sept. 9 at a price of $14.99 and 215,200 shares on Sept. 29 at a price of $13.63. Since then, the price of the stock has increased by 7.56%.

Director and 10% Owner Boxer Capital, LLC bought 225,000 shares on Sept. 9 at a price of $14.99 and 215,200 shares on Sept. 29 at a price of $13.63. The price of the stock has increased by 7.56% since then.

Golub Capital BDC

Golub Capital BDC Inc. (NASDAQ:GBDC) CEO David Golub bought 30,000 shares during the past week at the average price of $13.05.

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Golub Capital BDC is an externally managed, closed-end, non-diversified investment management company. The company's investment objective is to generate current income and capital appreciation by investing in senior secured and one-stop loans in U.S. middle-market companies. It also invests in second lien and subordinated loans, warrants and minority equity securities in middle-market companies.

The company has a market cap of $2.31 billion. Its shares traded at $13.83 as of Oct. 2.

Net investment income during the three months ended June 30 was $35.07 million, compared to $19.41 million for the prior-year quarter.

Golub bought 10,000 shares on Sept. 18 at a price of $13.33; 10,000 shares on Sept. 22 at a price of $13.21; 30,000 shares on Sept. 24 at a price of $12.87; 20,000 shares on Sept. 28 at a price of $12.99; and 10,000 shares on Sept. 30 at a price of $13.16. Since then, the price of the stock has increased by 5.09%.

Chairman Lawrence E. Golub bought 10,000 shares on Sept. 18 at a price of $13.33; 10,000 shares on Sept. 22 at a price of $13.21; 30,000 shares on Sept. 24 at a price of $12.87; 20,000 shares on Sept. 28 at a price of $12.99; and 10,000 shares on Sept. 30 at a price of $13.16. The price of the stock has increased by 5.09% since then.

PBF Energy

PBF Energy Inc. (NYSE:PBF) CEO Thomas J. Nimbley bought 50,000 shares on Sept. 28 at a price of $5.92. Since then, the price of the stock has increased by 1.01%.

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PBF Energy is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The company owns refineries in Ohio, Delaware, New Jersey and Louisiana. Each of the company's refining facilities specializes in the processing of either light, medium, or heavy crude oil. Depending on the location of the facility, crude can be received by either water or rail. PBF products are sold throughout the Northeast, Midwest and Gulf Coast of the United States and in different regions of Canada. In connection with refining facilities, the company also engages in receiving, handling, transferring and storing crude oil through subsidiary PBFX.

The company has a market cap of $718.49 million. Its shares traded at $5.98 as of Oct. 2.

Second quarter 2020 net income was $413.0 million compared to a net loss of $21.6 million for the second quarter of 2019.

Chief Financial Officer and Senior Vice President C. Erik Young bought 21,893 shares on Sept. 30 at a price of $5.87. The price of the stock has increased by 1.87% since then.

Senior Vice President Thomas L. O'Connor bought 25,000 shares on Sept. 30 at a price of $5.86. Since then, the price of the stock has increased by 2.05%.

Add'l Rep. Persons-see Ex.99-1 Empresarial De Capital Control bought 204,905 shares on Sept. 10 at a price of $7.17 and 100,000 shares on Sept. 18 at a price of $6.98. The price of the stock has decreased by 14.33% since then.

Progress Software

Progress Software Corp. (NASDAQ:PRGS) CEO Yogesh K. Gupta bought 2,700 shares on Oct. 1 at a price of $37.50. Since then, the price of the stock has increased by 0.72%.

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Progress Software is a provider of cloud-based security solutions to large- and mid-sized organizations in a wide range of industries. The firm operates in three segments: OpenEdge, which offers development software for building multi-language applications; Data Connectivity and Integration, which focuses on data integration components of its cloud offerings; and Application Development and Deployment, which focuses on growing application development assets for customers. The company derives revenue from perpetual licenses to its products, but some products also use term licensing models. Its cloud-based offerings use a subscription-based model. A majority of the firm's revenue is generated in the United States and Europe, the Middle East and Africa (EMEA) regions.

The company has a market cap of $1.76 billion. Its shares traded at $37.77 with a price-earnings ratio of 29.98 as of Oct. 2.

Net income for the quarter ended Aug. 31 was $23.98 million compared to $13.56 million for the prior-year period.

Chief Financial Officer Anthony Folger bought 2,622 shares on Oct. 1 at a price of $37.75. The price of the stock has increased by 0.05% since then.

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

Disclosure: I do not own stock in any of the companies mentioned in the article.

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  • 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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