I looked into the SEC filings posted on Morningstar. On February 7th he added 38,577 shares to his 401K in Pulte shares to raise his total share count to 732,402. On February 23rd he added another 45,000 in his open market purchase to bring the total up to 922,402. That's a 25+% increase in his shares inside of two weeks, and all this AFTER the recent CC.
I can't understand why there's all this interest in PHM at these levels and with this much size. Didn't someone also note that Blackrock bought 5% of the company at the end of 2010?
Dugas has been the only real buyer/acquirer in 2 years - doubling his share count to the 922,000 he has now. 280,000 shares were just given to him by the company. His two open market buys for 90,000 shares were at an average price of around $8.05.
Virtually all the sales for two years have been between 9.80 and the 12s. Whenever the stock got into the $11s the sellers came out of the wordwork and unloaded, the mid-$11s being where they though the company was fairly priced. Dugas hasn't sold a single share that I can see. I guess this goes with his self-confidence thing and why he dominates every aspect of Pulte (as revealed on the recent Conference call), making lot of wrong decisions for two years yet doing them with confidence. I think we need to see some OTHER insiders buying at these prices, like the ex-CEO of Bankamerica (BAC) Ken Lewis who was buying a million shares on the open market at 3 bucks and change in early 2009. Dugas seems to be the only guy that believes in his ability. I hope he's right.