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Weekly Top Insider Buys: Sovereign Bancorp Inc., Jefferies Group Inc., XenoPort Inc., Sandridge Energy Inc., W.P. Carey & Co. LLC

May 24, 2008 | About:

Highlight of top insider buys. Related companies: Sovereign Bancorp Inc. (SOV), Jefferies Group Inc. (JEF), XenoPort Inc. (XNPT), SANDRIDGE ENERGY INC (SD), W.P. Carey & Co. LLC (WPC).

Sovereign Bancorp Inc. (SOV): Director Ralph V. Whitworth Bought 22,000,000 Shares

On May 20, Savings and Loan operator Sovereign Bancorp, Inc. (SOV) completed its public offering of $1.9 billion of equity and debt to raise capital. First quarter profits doubled to $100.1 million or $0.20 a share compared to $48.1 million or $0.09 a share. In 2007, hefty $128.7 million company restructuring expenses ate into profits. First quarter provisions for loan losses totaled $135 million.

In the quarter that ended in March, David Dreman kept his 6,764,408 shares about the same, and Arnold Schneider sold out his SOV holdings.

Director Ralph V. Whitworth bought 22,000,000 shares on 5/16/08 at $8. Other insider buys were made on the same day by 10% Owner Santander, S.a. Banco, who bought 78,000,000 shares; CFO Kirk W. Walters, who bought 100,000 shares; Director Cameron C. Troilo, who bought 80,000 shares; Director William J. Moran, who bought 35,000 shares; Director P. Michael Ehlerman, who bought 15,000 shares; and Directors Maria F. Ramirez and Andrew C. Hove Jr. each bought 10,000 shares.

Sovereign Bancorp Inc. has a market cap of $3.9 billion; its shares were traded at around $8.51 with P/S ratio of 2.12. The dividend yield of Sovereign Bancorp Inc. stocks is 3.8%.

Jefferies Group Inc. (JEF): Director Ian M. Cumming Bought 3,139,904 Shares

This month, investment bank Jefferies Group, Inc. (JEF) appointed David P. Baxt as the head of Defense and Aerospace investment banking effort. The company recently sold 26.6 million shares of common stock to holding company Leucadia National, who currently owns 13.7% stake in JEF. The company lost $60.5 million in the first quarter compared to gain of $62.3 million a year ago.

John Keeley reduced 30% of his JEF holdings to 392,570 shares as of 3/31/08.

Jefferies Group Inc. has a market cap of $2.33 billion; its shares were traded at around $18.46 with a P/E ratio of 102.69 and P/S ratio of 1.81. The dividend yield of Jefferies Group Inc. stocks is 2.8%.

XenoPort Inc. (XNPT): Director John Gordon Freund Bought 353,333 Shares

XenoPort, Inc. (XNPT) focuses on developing internally-discovered product candidates that utilize the body's natural nutrient transporter mechanisms. For the quarter the biopharmaceutical company doubled their loss to $7.3 million or $0.29 per share compared from a previous loss of $3.3 million, or $0.14 per share. XenoPort’s revenue decreased 9% to $15 million.

Director John Gordon Freund bought 353,333 shares on 5/13/08 at $42.44, and another 7,578 shares on 3/14/08 at $41.61. Also, Director Cathy Friedman bought 2,300 shares on 3/14/08 at $42.76.

Insiders sold their XNPT holdings between $42.06 and $61.72: CEO, Director Ronald W. Barrett sold a total of 24,000 shares; SVP David R. Savello sold 11,192 shares; SVP and CFO William G. Harris sold 8,500 shares; SVP Kenneth C. Cundy sold 4,000 shares; and SVP Mark A. Gallop sold 3,000 shares.

XenoPort Inc. has a market cap of $1.12 billion; its shares were traded at around $44.61 with a P/E ratio of 48.01 and P/S ratio of 9.99.

SANDRIDGE ENERGY INC (SD): Director Daniel Jordan Bought 45,000 Shares

SandRidge Energy, Inc. (SD) operates as an oil and gas company focusing on exploration, development, and production. The company’s first quarter revenue rose 81% to $269.l million from $149.1 million; however, $144.1 million in charges from financial contracts put the company at a loss of $66.2 million or $0.47 for the quarter. In the prior year of 2007, the company lost $28.5 million or $0.31 a share.

T Boone Pickens, John Keeley, Ron Baron, and Steve Mandel bought shares of SD in the first quarter of 2008.

Director Daniel Jordan bought 45,000 shares of SD stock on 5/16/08 at $48.43, and 42,400 more shares on 3/17/08 at $36.97. Director Stuart W. Ray bought 5,000 shares on 3/14/08 at $40.03.

SANDRIDGE ENERGY INC has a market cap of $7.31 billion; its shares were traded at around $50.28 with P/S ratio of 9.22.

W.P. Carey & Co. LLC (WPC): Director Benjamin H. Griswold IV Bought 42,250 Shares

Real estate investment manager W. P. Carey & Co. LLC (WPC) purchased four warehousing and manufacturing facilities from Best Brands for $50 million in late-March. Dividend for the quarter was set at $0.482 a share. First quarter profits increased to $17.1 million or $0.43 per diluted share compared to $10.8 million or $0.27 per diluted share.

Currently, Kenneth Fisher and Tom Gayner own shares in WPC. Director Benjamin H. Griswold IV bought 42,250 shares during the past week around $31.20.

Carey & Co. LLC has a market cap of $1.15 billion; its shares were traded at around $31.2 with a P/E ratio of 14.17 and P/S ratio of 4.16. The dividend yield of W.P. Carey & Co. LLC stocks is 6.2%.

  • 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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Rating: 2.7/5 (6 votes)


Ranni - 9 years ago    Report SPAM
"The dividend yield of Sovereign Bancorp Inc. stocks is 3.8%"

Correction, Sovereign Bancorp ends dividend (Wed Jan 23, 2008)


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