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Weekly CEO Buys Highlight: Flagstar Bancorp Inc., Prospect Capital Corp., Marsh & McLennan Companies Inc., Winthrop Realty Trust, Life Time Fitness

May 23, 2008 | About:

This is the weekly highlight of top CEO buys. Related Companies: Flagstar Bancorp Inc. (FBC), Prospect Capital Corp. (PSEC), Marsh & McLennan Companies Inc. (MMC), Winthrop Realty Trust (FUR), Life Time Fitness Inc. (LTM).

Flagstar Bancorp Inc. (FBC): President and CEO, Director Mark T. Hammond Bought 317,500 Shares

Flagstar Bancorp, Inc. (FBC) operates as the savings and loan holding company for Flagstar Bank. The company recently made $94 million in capital from selling 12 million shares of company stock. In the prior month, FBC lost $10.6 million or $0.17 per diluted share compared to a previous earnings of $7.8 million or $0.12 per diluted share for the quarter. The company reported that “earnings were adversely affected by increased credit costs of $343.3 million” in provisions for loan losses.

Arnold Schneider owns 335,956 shares as of March.

President and CEO, Director Mark T. Hammond bought 317,500 shares on 5/19/08 at $5.88 and Director Frank Dangelo bought 4,000 shares on 11/27/07 at $6.11.

Flagstar Bancorp Inc. has a market cap of $290.16 million; its shares were traded at around $4.68 with P/S ratio of 1.24. The dividend yield of Flagstar Bancorp Inc. stocks is 3.4%.

Prospect Capital Corp. (PSEC): CEO, Director John F Barry Bought 90,000 Shares

Prospect Capital Corporation (PSEC) is a private equity firm specializing in private debt and loans. In March, the company offered $17.8 million in stocks to pay-off debt. First quarter dividend for PSEC is set at $0.40 per share. The third quarter earnings increased to $0.54 a share or $12.92 million compared to $0.47 in the previous year, on revenue of $22 million.

CEO, Director of Prospect Capital Corp. John F. Barry bought 90,000 shares during the past week at $15.99. COO & Director M. Grier Eliasek bought a total of 13,350 shares at $12.90 to $15.29 since December.

Prospect Capital Corp. has a market cap of $381.91 million; its shares were traded at around $15.99 with a P/E ratio of 22.64 and P/S ratio of 6.32. The dividend yield of Prospect Capital Corp. stocks is 10.4%.

Marsh & McLennan Companies Inc. (MMC): President and CEO, MMC, Director Brian Duperreault Bought 40,000 Shares

Marsh & McLennan Companies, Inc. (MMC), the biggest insurance brokerage, named David R. Frediani as the new SVP of International and Client Development. The company plans to sell a portion of its Kroll security & risk unit. MMC lost a total of $210 million or $0.40 a share for the quarter compared to a gain of $268 million or $0.47 a year ago. The largest provision loss included $425 million from Kroll unit.

While John Keeley sold out his holdings, Dodge & Cox, Brian Rogers, Arnold Van Den Berg, Charles Brandes, and Tom Gayner kept their shares the same in the quarter that ended on 3/31/08.

President and CEO, MMC, Director Brian Duperreault bought 40,000 shares on 5/14/08 at $28.15, and Chairman & CEO, Marsh Daniel S. Glaser bought 66,000 shares on 2/14/08 at $25.94.

Marsh & McLennan Companies Inc. has a market cap of $14.12 billion; its shares were traded at around $27.85 with a P/E ratio of 7.41 and P/S ratio of 1.23. The dividend yield of Marsh & McLennan Companies Inc. stocks is 2.7%.

Winthrop Realty Trust (FUR): Chairman and CEO, Director, 10% Owner Michael L. Ashner Bought 200,000 Shares

The real estate investment trust Winthrop Realty Trust (FUR) narrowed their first quarter net income 28% to $6.3 million or $0.09 a share from $8.7 million or $0.12 a share in 2007. Revenue declined from the loan assets and loan securities business segment. In March, Winthrop Realty divested its Lexington Realty trust for $53 million. The company’s cash for investment has tripled to $130 million this year compared to $36.7 million in 2007.

Arnold Schneider and Ron Baron bought shares of Winthrop Realty Trust.

Chairman and CEO, Director, 10% Owner Michael L. Ashner bought 200,000 shares on 5/15/08 at $4.40, also another 25,000 shares on 12/5/07 at $5. Other insider buys were made by President, Director Peter Braverman, who purchased 15,000 shares on 5/15/08 at $4.40; Director Bruce R. Berkowitz, who purchased 2,400 shares on 12/5/07 at $5.01; and Director Arthur Blasberg Jr., who bought 7,000 shares on 11/27/07 at $5.10.

Winthrop Realty Trust has a market cap of $297.01 million; its shares were traded at around $4.4 with a P/E ratio of 115.79 and P/S ratio of 4.56. The dividend yield of Winthrop Realty Trust stocks is 5.8%.

Life Time Fitness Inc. (LTM): Chairman and CEO, Director, 10% Owner Bahram Akradi Bought 11,800 Shares

Life Time Fitness, Inc. (LTM) reported a 10% increase in memberships for the first quarter. The fitness chain bolstered higher earnings of $17.4 million or $0.44 a share compared to $14.1 million or $0.38 a share, on 21% revenue spike to $184.5 million.

Jean-Marie Eveillard increased his LTM holdings 20% to 534,400 shares as of 3/31/08.

Chairman, CEO, Director, and current 10% Owner, Bahram Akradi, bought 11,800 shares on 5/13/08 at $36.09. Other insiders made their buys since March between $27.50 and $29: Director Joseph Vassalluzzo bought a total of 50,000 shares; Director John B. Richards bought 25,200; EV.P. & C.O.O. Michael J. Gerend bought 5,000 shares; and EVP & C.F.O Michael R. Robinson bought 1,000 shares.

Life Time Fitness Inc. has a market cap of $1.5 billion; its shares were traded at around $37.9 with a P/E ratio of 20.59 and P/S ratio of 2.18.

  • 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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