- By Joy Hu
According to GuruFocus Insider Data, these were the largest CEO buys during the past week.
Golub Capital BDC
Golub Capital BDC Inc. (NASDAQ:GBDC) CEO David Golub bought 40,000 shares during the past week at the average price of $12.95.
Golub Capital BDC is an externally managed, closed-end, non-diversified management investment company. The company's investment objective is to generate current income and capital appreciation by investing in senior secured and one-stop loans in U.S. middle-market companies. It also invests in second lien and subordinated loans, warrants and minority equity securities in middle-market companies.
The company has a market cap of $2.16 billion. Its shares traded at $12.94 as of Sept. 25.
Net investment income during the three months ended June 30 was $35.07 million, compared to $19.41 million for the prior-year quarter.
Golub bought 10,000 shares on Sept. 14 at a price of $13.21; 10,000 shares on Sept. 16 at a price of $13.35; 10,000 shares on Sept. 18 at a price of $13.33; 10,000 shares on Sept. 22 at a price of $13.21; and 30,000 shares on Sept. 24 at a price of $12.87. The price of the stock has increased by 0.54% since then.
Chairman Lawrence E. Golub bought 10,000 shares on Sept. 14 at a price of $13.21; 10,000 shares on Sept. 16 at a price of $13.35; 10,000 shares on Sept. 18 at a price of $13.33; 10,000 shares on Sept. 22 at a price of $13.21; and 30,000 shares on Sept. 24 at a price of $12.87. Since then, the price of the stock has increased by 0.54%.
Prosperity Bancshares Inc. (NYSE:PB) Senior Chairman and CEO David Zalman bought 8,700 shares on Sept. 23 at a price of $49.57. The price of the stock has increased by 0.2% since then.
Prosperity Bancshares follows a community bank model and provides multiple services to individuals and small to midsize businesses. It operates more than 200 branches in Texas, most of them around the Houston, Dallas-Fort Worth, Corpus Christi and Austin metropolitan areas. Its $5 billion loans are heavily weighted toward real estate, with commercial mortgages, consumer mortgages and construction loans constituting roughly 40%, 25% and 10% of its portfolio, respectively.
The company has a market cap of $4.60 billion. Its shares traded at $49.67 with a price-earnings ratio of 9.87 as of Sept. 25.
Net income for the second quarter of 2020 was $130.9 million compared to $82.3 million for the comparable period of 2019.
VEREIT Inc. (NYSE:VER) CEO Glenn J. Rufrano bought 40,000 shares on Sept. 23 at a price of $6.33. Since then, the price of the stock has changed by 0%.
VEREIT is a real estate investment trust primarily involved in the ownership of property located in the U.S. and Canada. VEREIT organizes its operations through the Real Estate Investment segment and the investment management segment. The company derives the vast majority of its income from its Real Estate Investment division in the form of rental income from long-term leases. This business unit owns and manages a real estate portfolio that is fairly evenly diversified between retail, restaurant, office and industrial properties. A sizable amount of the company's total rental income is derived from customers in the casual dining restaurant and manufacturing industries.
The company has a market cap of $6.82 billion. Its shares traded at $6.33 as of Sept. 25.
Net income for the quarter ended June 30 was $54.2 million compared to $292.3 million for the same quarter in 2019.
Hartford Financial Services
The Hartford Financial Services Group Inc. (NYSE:HIG) Chairman and CEO Christopher Swift bought 6,975 shares on Sept. 23 at a price of $35.98. The price of the stock has decreased by 0.5% since then.
Hartford Financial Services offers a diverse range of property and casualty insurance, group benefits and mutual fund services to a customer base of individuals and corporations.
The company has a market cap of $12.82 billion. Its shares traded at $35.80 with a price-earnings ratio of 7.21 as of Sept. 25.
Second quarter results for 2020 included a net income of $463 million compared to $372 million for the prior-year period.
Saul Centers Inc. (NYSE:BFS) CEO, President and 10% Owner B. Francis Saul II bought 10,000 shares on Sept. 22 at a price of $24.94. Since then, the price of the stock has increased by 2.57%.
Saul Centers is a self-managed real estate investment trust which invests in, operates and develops retail and commercial properties. The company's portfolio includes community and neighborhood shopping centres, office properties and mixed-use properties. Properties are primarily located in the Washington, D.C. and Maryland metropolitan areas. Saul Centers operates through two business segments: shopping centers, which contributes the maximum portion of total revenue, and mixed-use properties. Major tenants include grocery stores, discount department stores and drug stores.
The company has a market cap of $593.46 million. Its shares traded at $25.58 with a price-earnings ratio of 18.93 as of Sept. 25.
Net income for the second quarter of 2020 was $10.2 million compared to $16.8 million for the second quarter of 2019.
For the complete list of stocks bought by their company CEOs, go to: CEO Buys.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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This article first appeared on GuruFocus.