Weekly highlight of top CEO buys. Related companies: Chesapeake Energy Corp. (CHK, Financial), Jarden Corp. (JAH, Financial), MBIA Inc. (MBI, Financial), Lakes Entertainment Inc. (LACO, Financial), Xerium Technologies Inc. (XRM, Financial).
Chesapeake Energy Corp. (CHK): Chairman & CEO, Director Aubrey K. Mcclendon Bought 204,331 Shares
Chesapeake Energy Corporation, an oil and natural gas exploration and production company, raised their quarterly dividend 11% to $0.075 a share. The company recently completed the $104 million purchase of its new Chesapeake Plaza headquarters in downtown Fort Worth from Pier 1 Import. CHK’s officers proudly announced that their company will soon be the largest producers of natural gas in the nation; within two months, CHK expects to exceed its competitors: BP PLC and Anadarko Petroleum. CEO Aubrey K. Mcclendon said the company has a current backlog of 33,700 which equals 10 years worth of inventory. Chesapeake found good results in test wells and continues to develop its Haynesville Shale leasehold in Louisiana; the company plans to operate 12 rigs by December 2008 and 30 rigs by December of 2009.
David Dreman, Jean-Marie Eveillard, Richard Pzena, Ruane Cunniff, David Winters, Kenneth Fisher, John Keeley, Mason Hawkins, and Richard Snow own shares of Chesapeak Energy.
Chairman & CEO, Director Aubrey K. Mcclendon bought 204,331 shares on 6/2/08 at $54.99. Since February, CEO Mcclendon has purchased a total of 2,100,750 shares at $45.33 to $54.72 per share.
Since January, insiders sold between $38.53 and $57.25: COO Steven C. Dixon sold 130,000 shares; EVP & CFO Marcus C. Rowland sold 51,030 shares; EVP Steven C. Dixon sold 30,000 shares; SVP Martha A. Burger sold 22,500 shares; SVP Michael A. Johnson sold 17,500 shares; Director Breene M. Kerr sold 15,000 shares; and EVP J. Mark Lester sold 2,613 shares.
Chesapeake Energy Corp. has a market cap of $31.81 billion; its shares were traded at around $58.86 with a P/E ratio of 32.38 and P/S ratio of 4.15. The dividend yield of Chesapeake Energy Corp. stocks is 0.5%.
Jarden Corp. (JAH): Chairman and CEO, Director Martin E. Franklin Bought 150,000 Shares
Consumer product manufacturer, Jarden Corporation (JAH), tripled their quarterly net income, on robust sales from their sporting goods division; however missed analysts’ estimates. Jarden earned $4.7 million or $0.06 a share for the quarter compared to a prior $1.4 million or $0.02 a share. Revenue soared 48% to $1.22 billion from $820.9 million. The company recently acquired Pure Fishing, Inc and K2 Inc. Jarden products are known under the brands Coleman, Crock-Pot and Mr. Coffee.
George Soros bought 13,533 shares of Jarden Corporation in the quarter that ended on 3/31/08.
Chairman and CEO, Director Martin E. Franklin bought 150,000 shares on 6/6/08 at $18.40. Director Rene Pierre Azria bought 1,000 shares on 1/9/08 at $20.
Jarden Corp. has a market cap of $1.42 billion; its shares were traded at around $18.4 with a P/E ratio of 44.07 and P/S ratio of 0.28.
MBIA Inc. (MBI): Chairman and CEO, Director Joseph W. Brown Bought 159,000 Shares
Bond insurer MBIA, Inc. (MBI) made a bold move to gain investors’ confidence; the company raised $1.1 billion in new capital and they will not spend the $900 million into bond-insurance claims. MBIA stated that their prior provisions for losses are enough to pay future claims. Regulators emphasized that they will allow company transactions, which protect policy holders.
David Einhorn and Bill Miller bought 12,880 shares and 2,907,000 shares, respectively in the quarter that ended on 12/31/07. Tom Gayner sold out all his MBI holdings. Other gurus own shares in MBI include Third Avenue Management, Martin Whitman, Irving Kahn, and Chris Davis.
Chairman and CEO, Director Joseph W. Brown bought 159,000 shares on 6/5/08 at $5.91. As of March, CEO Brown has bought a total of 359,000 shares between $7.85 and $10. Directors Kewsong Lee and David A. Coulter each bought 24,691,359 shares of MBI stock on 2/13/08 at $12.15. Other insider buys were made since March at $11.46 and $13.69: VP Clifford D. Corso bought 7,700 shares; VP Kevin D. Silva bought 7,300 shares; VPs William C. Fallon and Ram D. Wertheim each bought 7,000 shares; VP Ruth M. Whaley bought 6,800 shares; VP Thomas G. Mcloughlin bought 6,600 shares; VP Mitchell I Sonkin bought 6,400 shares; and VP Christopher E. Weeks and CFO C. Edward Chaplin each bought 6,300 shares.
MBIA Inc. has a market cap of $1.37 billion; its shares were traded at around $4.89 . The dividend yield of MBIA Inc. stocks is 25%.
Lakes Entertainment Inc. (LACO): CEO, Director, 10% Owner Lyle Berman Bought 159,000 Shares
Lakes Entertainment, Inc. (LACO) develops, finances, and manages Indian-owned casino properties. The company halved their quarterly loss to $4.1 million from $7.5 million in 2007. The casino manager magnified their revenue in the quarter to $5 million from $481,000 last year. Lakes plans to open their new casino in El Dorado County around November.
CEO, Director, 10% Owner Lyle Berman bought 159,000 shares on 6/4/08 at $5.50; and
Director Morris Goldfarb bought 200,000 shares on 5/12/08 at $4.80.
Lakes Entertainment Inc. has a market cap of $131.55 million; its shares were traded at around $5.28 with P/S ratio of 4.07.
Xerium Technologies Inc. (XRM): President & CEO, Director Stephen R. Light Bought 75,919 Shares
Xerium Technologies, Inc. (XRM) manufactures and supplies consumable products that are used in the production of paper. The company lost $4.709 million for the quarter compared to an income of $7.678 million in 2007. Xerium restructures its debt with Citigroup and 60 other lenders to avoid bankruptcy. The company eliminated its dividend for the first quarter of 2008.
President & CEO, Director of Xerium Technologies IncStephen R. Light bought 75,919 shares during the past week at $5.14. EVP. & CFO, Director Michael Odonnell bought 23,000 shares of XRM stock on 6/3/08 at $5.01.
Xerium Technologies Inc. has a market cap of $229.52 million; its shares were traded at around $5.14 with P/S ratio of 0.38. The dividend yield of Xerium Technologies Inc. stocks is 8.6%.
Chesapeake Energy Corp. (CHK): Chairman & CEO, Director Aubrey K. Mcclendon Bought 204,331 Shares
Chesapeake Energy Corporation, an oil and natural gas exploration and production company, raised their quarterly dividend 11% to $0.075 a share. The company recently completed the $104 million purchase of its new Chesapeake Plaza headquarters in downtown Fort Worth from Pier 1 Import. CHK’s officers proudly announced that their company will soon be the largest producers of natural gas in the nation; within two months, CHK expects to exceed its competitors: BP PLC and Anadarko Petroleum. CEO Aubrey K. Mcclendon said the company has a current backlog of 33,700 which equals 10 years worth of inventory. Chesapeake found good results in test wells and continues to develop its Haynesville Shale leasehold in Louisiana; the company plans to operate 12 rigs by December 2008 and 30 rigs by December of 2009.
David Dreman, Jean-Marie Eveillard, Richard Pzena, Ruane Cunniff, David Winters, Kenneth Fisher, John Keeley, Mason Hawkins, and Richard Snow own shares of Chesapeak Energy.
Chairman & CEO, Director Aubrey K. Mcclendon bought 204,331 shares on 6/2/08 at $54.99. Since February, CEO Mcclendon has purchased a total of 2,100,750 shares at $45.33 to $54.72 per share.
Since January, insiders sold between $38.53 and $57.25: COO Steven C. Dixon sold 130,000 shares; EVP & CFO Marcus C. Rowland sold 51,030 shares; EVP Steven C. Dixon sold 30,000 shares; SVP Martha A. Burger sold 22,500 shares; SVP Michael A. Johnson sold 17,500 shares; Director Breene M. Kerr sold 15,000 shares; and EVP J. Mark Lester sold 2,613 shares.
Chesapeake Energy Corp. has a market cap of $31.81 billion; its shares were traded at around $58.86 with a P/E ratio of 32.38 and P/S ratio of 4.15. The dividend yield of Chesapeake Energy Corp. stocks is 0.5%.
Jarden Corp. (JAH): Chairman and CEO, Director Martin E. Franklin Bought 150,000 Shares
Consumer product manufacturer, Jarden Corporation (JAH), tripled their quarterly net income, on robust sales from their sporting goods division; however missed analysts’ estimates. Jarden earned $4.7 million or $0.06 a share for the quarter compared to a prior $1.4 million or $0.02 a share. Revenue soared 48% to $1.22 billion from $820.9 million. The company recently acquired Pure Fishing, Inc and K2 Inc. Jarden products are known under the brands Coleman, Crock-Pot and Mr. Coffee.
George Soros bought 13,533 shares of Jarden Corporation in the quarter that ended on 3/31/08.
Chairman and CEO, Director Martin E. Franklin bought 150,000 shares on 6/6/08 at $18.40. Director Rene Pierre Azria bought 1,000 shares on 1/9/08 at $20.
Jarden Corp. has a market cap of $1.42 billion; its shares were traded at around $18.4 with a P/E ratio of 44.07 and P/S ratio of 0.28.
MBIA Inc. (MBI): Chairman and CEO, Director Joseph W. Brown Bought 159,000 Shares
Bond insurer MBIA, Inc. (MBI) made a bold move to gain investors’ confidence; the company raised $1.1 billion in new capital and they will not spend the $900 million into bond-insurance claims. MBIA stated that their prior provisions for losses are enough to pay future claims. Regulators emphasized that they will allow company transactions, which protect policy holders.
David Einhorn and Bill Miller bought 12,880 shares and 2,907,000 shares, respectively in the quarter that ended on 12/31/07. Tom Gayner sold out all his MBI holdings. Other gurus own shares in MBI include Third Avenue Management, Martin Whitman, Irving Kahn, and Chris Davis.
Chairman and CEO, Director Joseph W. Brown bought 159,000 shares on 6/5/08 at $5.91. As of March, CEO Brown has bought a total of 359,000 shares between $7.85 and $10. Directors Kewsong Lee and David A. Coulter each bought 24,691,359 shares of MBI stock on 2/13/08 at $12.15. Other insider buys were made since March at $11.46 and $13.69: VP Clifford D. Corso bought 7,700 shares; VP Kevin D. Silva bought 7,300 shares; VPs William C. Fallon and Ram D. Wertheim each bought 7,000 shares; VP Ruth M. Whaley bought 6,800 shares; VP Thomas G. Mcloughlin bought 6,600 shares; VP Mitchell I Sonkin bought 6,400 shares; and VP Christopher E. Weeks and CFO C. Edward Chaplin each bought 6,300 shares.
MBIA Inc. has a market cap of $1.37 billion; its shares were traded at around $4.89 . The dividend yield of MBIA Inc. stocks is 25%.
Lakes Entertainment Inc. (LACO): CEO, Director, 10% Owner Lyle Berman Bought 159,000 Shares
Lakes Entertainment, Inc. (LACO) develops, finances, and manages Indian-owned casino properties. The company halved their quarterly loss to $4.1 million from $7.5 million in 2007. The casino manager magnified their revenue in the quarter to $5 million from $481,000 last year. Lakes plans to open their new casino in El Dorado County around November.
CEO, Director, 10% Owner Lyle Berman bought 159,000 shares on 6/4/08 at $5.50; and
Director Morris Goldfarb bought 200,000 shares on 5/12/08 at $4.80.
Lakes Entertainment Inc. has a market cap of $131.55 million; its shares were traded at around $5.28 with P/S ratio of 4.07.
Xerium Technologies Inc. (XRM): President & CEO, Director Stephen R. Light Bought 75,919 Shares
Xerium Technologies, Inc. (XRM) manufactures and supplies consumable products that are used in the production of paper. The company lost $4.709 million for the quarter compared to an income of $7.678 million in 2007. Xerium restructures its debt with Citigroup and 60 other lenders to avoid bankruptcy. The company eliminated its dividend for the first quarter of 2008.
President & CEO, Director of Xerium Technologies IncStephen R. Light bought 75,919 shares during the past week at $5.14. EVP. & CFO, Director Michael Odonnell bought 23,000 shares of XRM stock on 6/3/08 at $5.01.
Xerium Technologies Inc. has a market cap of $229.52 million; its shares were traded at around $5.14 with P/S ratio of 0.38. The dividend yield of Xerium Technologies Inc. stocks is 8.6%.
