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Weekly CEO Buys Highlight: : Emeritus Corp, Cousins Properties Inc., Goodrich Petroleum Corp., United America Indemnity Ltd., Group 1 Automotive Inc.

December 18, 2007 | About:

This is the weekly top CEO buys. Related Companies: Emeritus Corp (ESC), Cousins Properties Inc. (CUZ), Goodrich Petroleum Corp. (GDP), United America Indemnity Ltd. (INDM), Group 1 Automotive Inc. (GPI).

Emeritus Corp (ESC): Chairman & CEO, Director, 10% Owner Daniel R. Baty Bought 20,000 Shares

Emeritus Corporation, a senior residence and community operator, totaled a third-quarter revenue of $138.1 million compared to $107.3 million in the previous year. The 29% increase in revenue is owed to increase in monthly occupancy.

Ron Baron, who owns 2,128,100 shares, increased his holding by 18.2%; and guru John Keeley, who owns 342,000 shares, kept his position unchanged.

Chairman & CEO, Director, Daniel R. Baty , who is also the current 10% owner of ESC, bought 20,000 shares last Monday at $25.95. Since mid-August, D.R. Baty has purchased a total of 104,900 shares between $22.55 and $24.40. Another 10% owner of ESC, Brandon D. Baty, bought a total of 20,000 shares between $24.62 and $25.83. Also, Director Stanley L. Baty bought 7,900 shares at $21.48. Four notable sells were made by Director Charles P. Durkin Jr., who sold 500,000 shares at $29.17; EVP & COO James Justin Hutchens, who sold 19,800 shares between $24.85 and $28.25; SVP Quality & Risk Management Claro Budgie Bautista Amparo, who sold 3,341 shares at $28.95; and lastly, Director David W. Niemiec, who sold 2,917 shares at $29.17.

Emeritus Corp has a market cap of $958.33 million; its shares were traded at around $24.7 with P/S ratio of 2.05.

Cousins Properties Inc. (CUZ): Chairman and CEO, Director Thomas D. Bell Jr. Bought 17,955 Shares

Cousins Properties Incorporated (CUZ), a real estate investment trust (REIT), made an improvement on its quarterly earnings by a gain of $0.14 or $7.3 million compared to a loss of $0.03 or $1.6 million in the previous year. In this quarter, the company’s revenue increased by 41% to $46.2 million. Some analysts believe the stock is currently undervalued. Early this month, CUZ announced their plans to invest $172.5 million to develop a 565,000-sqft Atlanta office building with Prudential Real Estate Investors.

Three gurus own CUZ shares: Third Avenue Management, Ruane Cunniff, and Chris Davis.

Since late-November Chairman and CEO, Director Thomas D. Bell Jr. bought a total of 50,880 shares between $22.79 and $23.27. Four other directors made large buys of CUZ stock between $22.60 and $29: Thomas G. Cousins, who is the current 10% owner, bought 80,000 shares; S Taylor Glover bought 48,500 shares; Boone A Knox bought 12,000 share; and James D. Edwards bought 2,000 shares.

Cousins Properties Inc. has a market cap of $1.15 billion; its shares were traded at around $22.39 with P/E ratio of 19.53 and P/S ratio of 7.16. The dividend yield of Cousins Properties Inc. stocks is 6.6%.

Goodrich Petroleum Corp. (GDP): Vice Chairman & CEO, Director Walter G. Goodrich Bought 10,000 Shares

Goodrich Petroleum Corporation (GDP) made plans to increase the stock offering to 5.8 million shares at $23.50. The petroleum producer estimated net proceeds of $109.7 million, which will be used to pay company debts. The company suffered a quarterly net income loss of $22.1 million compared to a previous gain of $8.2 million.

John Keeley owns 2,431,090 shares as of 09/30.

On last Monday, Vice Chairman & CEO, Director Walter G. Goodrich bought 10,000 shares at $23.50.

Since July, the 10% owners Director Josiah T. Austin and Director Patrick E. Malloy bought 220,000 shares and 60,000 shares, respectively between $23.50 and $28.79. Other insider buys were made by Director Michael J. Perdue, who bought 5,000 shares and President & COO Robert C. Turnham Jr., who bought 700 shares between $29.46 and $31.92.

Goodrich Petroleum Corp. has a market cap of $666.96 million; its shares were traded at around $24.18 with P/S ratio of 4.88.

United America Indemnity Ltd. (INDM): President & CEO, Director Larry A. Frakes Bought 5,800 Shares

United America Indemnity, Ltd., a property and casualty insurer established a separate wholesale brokerage division and named David J. Myers as president. The company had a quarterly income decrease of 25.3% compared to last year, from $32.1 million or $0.86 to $24 million or $0.64. The company’s 2006 revenue was boosted by a $10.1 million after-tax gain resulting from the sale of its Penn Independent assets.

While guru Richard Pzena, who owns 1,706,358 shares increased his position by 31%, guru HOTCHKIS & WILEY, who owns 1,275,028 shares, kept their shares nearly unchanged.

President & CEO, Director Larry A. Frakes bought a total of 50,000 shares between $19.59 and $20.62 since mid-August. Also, Director James R. Kroner bought 1,000 shares on 11/27 at $19.55.

United America Indemnity Ltd. has a market cap of $721.79 million; its shares were traded at around $19.35 with P/E ratio of 7.10 and P/S ratio of 1.15.

Group 1 Automotive Inc. (GPI): President & CEO, Director Earl J. Hesterberg Bought 2,300 Shares

Group 1 Automotive, Inc. (GPI) reported a third quarter earnings decrease by 21% to $20.8 million or $0.90. The company vehicle third quarter sales dropped by 4% for new and 6% for used. The automotive retailer expects to gain $107.1 million in annual revenue from the recently acquired Mercedes-Benz, BMW and Volkeswagen franchise in Georgia and South Carolina.

HOTCHKIS & WILEY owns 373,100 shares of GPI stock as of 09/30.

Since mid-November, President & CEO, Director Earl J. Hesterberg bought a total of 3,300 at around $25.13. Another notable insider buy was made by SVP, Ops & Corp Development, Randy L. Callison, who bought 1,000 shares at $26.23.

Group 1 Automotive Inc. has a market cap of $574.21 million; its shares were traded at around $24.94 with P/E ratio of 7.80 and P/S ratio of 0.09. The dividend yield of Group 1 Automotive Inc. stocks is 2.2%.

  • 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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