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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: Live Oak Bancshares, Raytheon Technologies, Ares Capital, Agree Realty and Golub Capital BDC

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

Live Oak Bancshares

Live Oak Bancshares Inc. (NASDAQ:LOB) CEO and 10% Owner James S. Mahan III bought 154,384 shares on Oct. 28 at a price of $34.18. The price of the stock has increased by 9.07% since then.

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Live Oak Bancshares operates as a bank holding company for the Live Oak Banking Company, which provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including non-interest-bearing demand, interest-bearing checking, money market, saving and time deposits.

The company has a market cap of $1.51 billion. Its shares traded at $37.28 with a price-earnings ratio of 41.42 as of Oct. 30.

Net income for the third quarter of 2020 was $33.8 million compared to net income of $3.9 million for the third quarter of 2019.

Raytheon Technologies

Raytheon Technologies Corp. (NYSE:RTX) President and CEO Gregory Hayes bought 55,000 shares on Oct. 28 at a price of $54.82. Since then, the price of the stock has decreased by 0.91%.

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Raytheon Technologies is a diversified aerospace and defense industrial company formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to the commercial aerospace manufactures and to the defense market as a prime and subprime contractor. The company operates in four segments: Pratt & Whitney (an engine manufacturer), Collins Aerospace (which is a diversified aerospace supplier), intelligence, space and airborne systems (a mix between a sensors business and a government IT contractor) and integrated defense and missile systems (a defense prime contractor focusing on missiles and missile defense hardware).

The company has a market cap of $82.50 billion. Its shares traded at $54.32 as of Oct. 30.

Net income for the third quarter of 2020 was $151 million.

Executive Vice President and General Counsel Frank R. Jimenez bought 1,000 shares on Oct. 29 at a price of $52.57. The price of the stock has increased by 3.33% since then.

Executive Chairman Thomas A. Kennedy bought 19,059 shares on Oct. 29 at a price of $52.47. Since then, the price of the stock has increased by 3.53%.

Director Dinesh C. Paliwal bought 9,532 shares on Oct. 29 at a price of $52.41. The price of the stock has increased by 3.64% since then.

Director James A. Winnefeld Jr. bought 500 shares on Oct. 28 at a price of $55.20. Since then, the price of the stock has decreased by 1.59%.

Ares Capital

Ares Capital Corp. (NASDAQ:ARCC) CEO R. Kipp Deveer bought 75,000 shares on Oct. 28 at a price of $13.98. The price of the stock has decreased by 1.07% since then.

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Ares Capital is a U.S.-based closed-ended specialty finance company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company focuses on investing primarily in U.S. middle-market companies with investment opportunities as well as in larger companies. Its portfolio comprises of first lien senior secured loans, second lien senior secured loans and mezzanine debt (subordinated unsecured loans) which may include equity components which are diversified by industry and sector.

The company has a market cap of $5.85 billion. Its shares traded at $13.83 with a price-earnings ratio of 19.02 as of Oct. 30.

Third quarter net investment income for 2020 was $166 million compared to $212 million for the prior-year period.

General Counsel, Vice President and Secretary Joshua M. Bloomstein bought 5,000 shares on Oct. 30 at a price of $13.78. Since then, the price of the stock has increased by 0.36%.

Executive Vice President Michael J. Arougheti bought 10,000 shares on Oct. 28 at a price of $13.92. The price of the stock has decreased by 0.65% since then.

Agree Realty

Agree Realty Corp. (NYSE:ADC) President and CEO Joey Agree bought 15,293 shares on Oct. 23 at a price of $65.69. Since then, the price of the stock has decreased by 5.51%.

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Agree Realty operates as a fully integrated real estate investment trust primarily focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants. Some of its properties in the portfolio include 24 Hour Fitness, 7-Eleven, Wawa and PetSmart, among others.

The company has a market cap of $3.44 billion. Its shares traded at $62.07 with a price-earnings ratio of 33.75 as of Oct. 30.

Net income for the three months ended Sept. 30 was $21.3 million compared to $20.6 million for the comparable period in 2019.

Golub Capital BDC

Golub Capital BDC Inc. (NASDAQ:GBDC) CEO David Golub bought 29,100 shares during the past week at the average price of $13.07.

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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 $2.13 billion. Its shares traded at $12.71 as of Oct. 30.

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 Oct. 16 at a price of $13.45; 10,000 shares on Oct. 20 at a price of $13.32; 10,000 shares on Oct. 22 at a price of $13.21; 9,100 shares on Oct. 26 at a price of $13.37; and 20,000 shares on Oct. 28 at a price of $12.93. The price of the stock has decreased by 1.7% since then.

Chairman Lawrence E. Golub bought 10,000 shares on Oct. 16 at a price of $13.45; 10,000 shares on Oct. 20 at a price of $13.32; 10,000 shares on Oct. 22 at a price of $13.21; 9,100 shares on Oct. 23 at a price of $13.37; and 20,000 shares on Oct. 28 at a price of $12.93. Since then, the price of the stock has decreased by 1.7%.

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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