Weekly highlight of top CEO buys. Companies of the Week: Luby's Inc. (LUB, Financial), US Airways Group Inc. (LCC, Financial), Regency Energy Partners LP (RGNC, Financial), Resource America Inc. (REXI, Financial), Morgans Hotel Group Co. (MHGC, Financial).
Luby's Inc. (LUB): President and CEO, Director, 10% Owner Christopher James Pappas Bought 100,000 Shares
Chain restaurant Luby's, Inc. (LUB) reported a 76% decline in quarterly profits on rising costs and lower sales. For the quarter that ended in May, the company made a profit of $949 million or $0.03 a share compared to last year’s $3.9 billion or $0.14 a share. Also, revenue declined 2% to $74.6 million for the quarter, as same store-sales dropped 3.3%. Restaurants have to deal with high operating costs, and slower business.
Robert Olstein owns 51,000 shares as of 3/31/08.
President and CEO, Director, 10% Owner Christopher James Pappas and COO, Director, 10% Owner Harris J. Pappas each bought 100,000 shares during the past week at $6.27. Since January, CEO Christopher James Pappas has purchased a total of 700,000 shares, and COO Harris J Pappas has purchased a total of 761,600 shares. Director Frank Markantonis and CFO K. Scott Gray bought 10,000 shares at $9.90 and 1,000 shares at $9.32, correspondingly.
Luby's Inc. has a market cap of $175.11 million; its shares were traded at around $6.27 with a P/E ratio of 19.06 and P/S ratio of 0.55.
US Airways Group Inc. (LCC): Chairman of the Board and CEO, Director W Douglas Parker Bought 197,000 Shares
The shares of airline operator, US Airways Group, Inc. (LCC), hit its 52-week low this week, as oil prices rise around $140s per barrel. LCC shares have lost 83% its value since the beginning of this year. According to analysts, the airline industry overall will cut capacity by 9% in 2008. Delta, Southwest, United Airlines increased their fares by $5 to $40.
Bill Miller increased his holdings by 34% to 5,361,700 shares as of 3/31/08.
Chairman of the Board and CEO, Director W. Douglas Parker bought 197,000 shares on 6/16/08 at $2.80.
US Airways Group Inc. has a market cap of $237.58 million; its shares were traded at around $2.58 with a P/E ratio of 1.89 and P/S ratio of 0.02.
Regency Energy Partners LP (RGNC): Former Chairman and CEO James W. Hunt Bought 100,000 Shares
Regency Energy Partners LP (RGNC) engages in the gathering, processing, treatment, contract compression, marketing, and transportation of natural gas and natural gas liquids (NGLs). The company’s first quarter earnings rose on increasing gas sales. Regency earned $10.3 million for the quarter, compared to a loss of $1.3 million in the prior year. Revenue for the quarter rose 58% to $405.2 million. The company set their dividend for the quarter at $0.42 a share.
Former Chairman and CEO James W. Hunt bought 100,000 shares on 6/17/08 at $26.79.
VP Houston Clifton Ross III sold 2,378 shares on 5/16/08 at $26.48, and VP Christofer David Rozzell sold 10,000 shares on 3/5/08 at $29.86.
Regency Energy Partners LP has a market cap of $1.79 billion; its shares were traded at around $24.93 with P/S ratio of 1.31. The dividend yield of Regency Energy Partners LP stocks is 6.79%.
Resource America Inc. (REXI): CEO & President, Director Jonathan Z. Cohen Bought 166,667 Shares
Resource America, Inc. operates (REXI), an asset management company, announced their quarterly dividend to be $0.41 a share. LEAF Financial Corporation, a subsidiary of REXI, raised $120 million through public offering.
CEO & President, Director Jonathan Z. Cohen and Chairman, Director Edward E. Cohen each bought 166,667 shares of REXI stock on 6/18/08 at $9. As of March, CEO Cohen has bought a total of 70,255 shares between $8.38 and $10.33.
10% Owner Capital Management, Ll Spencer bought 25,650 shares on 2/29/08 at $11.89; however, they also have sold a total of 1,073,839 shares at $9.18 to $10.67.
Resource America Inc. has a market cap of $177.45 million; its shares were traded at around $9.78 with P/S ratio of 1.05. The dividend yield of Resource America Inc. stocks is 2.92%.
Morgans Hotel Group Co. (MHGC): President and CEO, Director Fred J Kleisner Bought 20,000 Shares
Morgans Hotel Group Co. (MHGC), a hospitality company, engages in the operation, ownership, acquisition, development, and redevelopment of boutique hotels in gateway cities and resort markets in the United States and Europe. Despite 3% revenue rise to $80.7 million, the company lost $7 million or $0.22 a share on costly joint ventures with Mondrian South Beach and Delano Las Vegas. Comparing to last year, the company made a profit of $436,000 or $0.01 a share. Morgans Hotel Group closed on funding for its Hard Rock Hotel & Casino expansion project—which is also jointly funded by DDLJ Merchant Banking Partners. The Las Vegas resort will cost up to $760 million; the project will be completed by 2009. The company’s shares are currently at its 52-week low.
President and CEO, Director Fred J Kleisner bought 20,000 shares on 6/18/08 at $12.51; and 10% Owner Associates, Llc Otk bought a total of 677,472 shares at $15.24 to $15.63.
Morgans Hotel Group Co. has a market cap of $359.33 million; its shares were traded at around $11.17 with P/S ratio of 1.09.
Luby's Inc. (LUB): President and CEO, Director, 10% Owner Christopher James Pappas Bought 100,000 Shares
Chain restaurant Luby's, Inc. (LUB) reported a 76% decline in quarterly profits on rising costs and lower sales. For the quarter that ended in May, the company made a profit of $949 million or $0.03 a share compared to last year’s $3.9 billion or $0.14 a share. Also, revenue declined 2% to $74.6 million for the quarter, as same store-sales dropped 3.3%. Restaurants have to deal with high operating costs, and slower business.
Robert Olstein owns 51,000 shares as of 3/31/08.
President and CEO, Director, 10% Owner Christopher James Pappas and COO, Director, 10% Owner Harris J. Pappas each bought 100,000 shares during the past week at $6.27. Since January, CEO Christopher James Pappas has purchased a total of 700,000 shares, and COO Harris J Pappas has purchased a total of 761,600 shares. Director Frank Markantonis and CFO K. Scott Gray bought 10,000 shares at $9.90 and 1,000 shares at $9.32, correspondingly.
Luby's Inc. has a market cap of $175.11 million; its shares were traded at around $6.27 with a P/E ratio of 19.06 and P/S ratio of 0.55.
US Airways Group Inc. (LCC): Chairman of the Board and CEO, Director W Douglas Parker Bought 197,000 Shares
The shares of airline operator, US Airways Group, Inc. (LCC), hit its 52-week low this week, as oil prices rise around $140s per barrel. LCC shares have lost 83% its value since the beginning of this year. According to analysts, the airline industry overall will cut capacity by 9% in 2008. Delta, Southwest, United Airlines increased their fares by $5 to $40.
Bill Miller increased his holdings by 34% to 5,361,700 shares as of 3/31/08.
Chairman of the Board and CEO, Director W. Douglas Parker bought 197,000 shares on 6/16/08 at $2.80.
US Airways Group Inc. has a market cap of $237.58 million; its shares were traded at around $2.58 with a P/E ratio of 1.89 and P/S ratio of 0.02.
Regency Energy Partners LP (RGNC): Former Chairman and CEO James W. Hunt Bought 100,000 Shares
Regency Energy Partners LP (RGNC) engages in the gathering, processing, treatment, contract compression, marketing, and transportation of natural gas and natural gas liquids (NGLs). The company’s first quarter earnings rose on increasing gas sales. Regency earned $10.3 million for the quarter, compared to a loss of $1.3 million in the prior year. Revenue for the quarter rose 58% to $405.2 million. The company set their dividend for the quarter at $0.42 a share.
Former Chairman and CEO James W. Hunt bought 100,000 shares on 6/17/08 at $26.79.
VP Houston Clifton Ross III sold 2,378 shares on 5/16/08 at $26.48, and VP Christofer David Rozzell sold 10,000 shares on 3/5/08 at $29.86.
Regency Energy Partners LP has a market cap of $1.79 billion; its shares were traded at around $24.93 with P/S ratio of 1.31. The dividend yield of Regency Energy Partners LP stocks is 6.79%.
Resource America Inc. (REXI): CEO & President, Director Jonathan Z. Cohen Bought 166,667 Shares
Resource America, Inc. operates (REXI), an asset management company, announced their quarterly dividend to be $0.41 a share. LEAF Financial Corporation, a subsidiary of REXI, raised $120 million through public offering.
CEO & President, Director Jonathan Z. Cohen and Chairman, Director Edward E. Cohen each bought 166,667 shares of REXI stock on 6/18/08 at $9. As of March, CEO Cohen has bought a total of 70,255 shares between $8.38 and $10.33.
10% Owner Capital Management, Ll Spencer bought 25,650 shares on 2/29/08 at $11.89; however, they also have sold a total of 1,073,839 shares at $9.18 to $10.67.
Resource America Inc. has a market cap of $177.45 million; its shares were traded at around $9.78 with P/S ratio of 1.05. The dividend yield of Resource America Inc. stocks is 2.92%.
Morgans Hotel Group Co. (MHGC): President and CEO, Director Fred J Kleisner Bought 20,000 Shares
Morgans Hotel Group Co. (MHGC), a hospitality company, engages in the operation, ownership, acquisition, development, and redevelopment of boutique hotels in gateway cities and resort markets in the United States and Europe. Despite 3% revenue rise to $80.7 million, the company lost $7 million or $0.22 a share on costly joint ventures with Mondrian South Beach and Delano Las Vegas. Comparing to last year, the company made a profit of $436,000 or $0.01 a share. Morgans Hotel Group closed on funding for its Hard Rock Hotel & Casino expansion project—which is also jointly funded by DDLJ Merchant Banking Partners. The Las Vegas resort will cost up to $760 million; the project will be completed by 2009. The company’s shares are currently at its 52-week low.
President and CEO, Director Fred J Kleisner bought 20,000 shares on 6/18/08 at $12.51; and 10% Owner Associates, Llc Otk bought a total of 677,472 shares at $15.24 to $15.63.
Morgans Hotel Group Co. has a market cap of $359.33 million; its shares were traded at around $11.17 with P/S ratio of 1.09.
- 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.
