U.S. markets open in 30 minutes

Weekly CEO Buys Highlight

According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

Dell Technologies

Dell Technologies Inc. (NYSE:DELL) CEO and 10% Owner Michael S. Dell bought 828,199 shares on March 20 at a price of $31.70. The price of the stock has increased by 22.24% since then.

251c4db5dba8ac73f475008a23355bba.png


Dell Technologies was born from Dell's 2016 acquisition of EMC, a leading provider of servers and storage products through its ISG segment, PCs, monitors and peripherals via its CSG division and virtualization software through VMware. Its brands include Dell, Dell EMC, VMware, Boomi, Secureworks and Virtustream. The company supplements its traditional mainstream servers and PCs with hardware and software products for hybrid-cloud environments.

The company has a market cap of $28.7 billion. Its shares traded at $38.75 with a price-earnings ratio of 6.42 as of March 27.

Net income for the fourth quarter of fiscal 2020 was $416 million compared to a loss of $287 million for the comparable period of fiscal 2019.

Chief Operating Officer and Vice Chairman Jeffrey W. Clarke sold 107,878 shares on March 3 at a price of $41.24; 111,095 shares on March 5 at a price of $41.93; and 57,073 shares on March 6 at a price of $39.06. Since then, the price of the stock has decreased by 0.79%.

Prosperity Bancshares

Prosperity Bancshares Inc. (NYSE:PB) Senior Chairman and CEO David Zalman bought 15,056 shares on March 23 at a price of $43.17. The price of the stock has increased by 14.15% since then.

a2850449bb409cce25f94841e69756f2.png

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 $4.67 billion. Its shares traded at $49.28 with a price-earnings ratio of 10.90 as of March 27.

Net income for the quarter ended Dec. 31, 2019 was $86.13 million compared with $83.33 million for the same period in 2018.

Chief Financial Officer Asylbek Osmonov bought 300 shares on March 10 at a price of $51.24; 377 shares on March 19 at a price of $48; and 300 shares on March 23 at a price of $43. Since then, the price of the stock has increased by 14.6%.

Chairman H. E. Timanus Jr. bought 39,000 shares on March 9 at a price of $51.35; 11,000 shares on March 11 at a price of $50.93; and 5,000 shares on March 23 at a price of $42.99. The price of the stock has increased by 14.63% since then.

Executive Vice President and General Counsel Charlotte M. Rasche bought 2,000 shares on March 10 at a price of $51.31. Since then, the price of the stock has decreased by 3.96%.

Director James A. Bouligny bought 4,000 shares on March 10 at a price of $50.01. The price of the stock has decreased by 1.46% since then.

CIT Group

CIT Group Inc. (NYSE:CIT) Chairwoman and CEO Ellen R. Alemany bought 35,000 shares on March 20 at a price of $14.69. Since then, the price of the stock has increased by 21.03%.

a6798215f86c61c7d92a55398761beb7.png

CIT Group is a banking holding and financial holding company operating primarily in North America. It provides financing, leasing and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors and distributors.

The company has a market cap of $1.74 billion. Its shares traded at $17.78 with a price-earnings ratio of 3.37 as of March 27.

Fourth quarter net income for 2019 was $121 million compared to $82 million for the prior-year period.

Director Sheila A. Stamps bought 2,000 shares on March 24 at a price of $16.12. The price of the stock has increased by 10.3% since then.

Executive Vice President and Controller Edward K. Sperling bought 2,500 shares on March 23, 2020 at a price of $12.88. Since then, the price of the stock has increased by 38.04%.

Director Alan L. Frank bought 2,500 shares on March 23 at a price of $12.84. The price of the stock has increased by 38.47% since then.

President of CIT Bank, N.A. Robert C. Rubino bought 9,350 shares on March 20 at a price of $14.94. Since then, the price of the stock has increased by 19.01%.

Director R. Brad Oates bought 4,579 shares on March 20 at a price of $14.21. The price of the stock has increased by 25.12% since then.

Westlake Chemical Partners

Westlake Chemical Partners LP (NYSE:WLKP) President, CEO and 10% Owner Albert Chao bought 23,240 shares during the past week at the average price of $13.70.

91d91ccae66398751d0503e6b960af2f.png

Westlake Chemical Partners LP is a part of the chemical industry in the United States. Through its operating interests in Westlake Chemical OpCo LP (OpCo), it acquires ethyelene production facilities, which primarily convert ethane into ethylene. OpCo sells ethylene and its co-products such as propylene, crude butadiene, pyrolysis gasoline and hydrogen to Westlake and other customers in the United States.

The company has a market cap of $544.11 million. Its shares traded at $15.46 with a price-earnings ratio of 8.74 as of March 27.

Net income for the fourth quarter of 2019 was $17.4 million compared to fourth quarter 2018 net income of $11.9 million.

Chao bought 15,974 shares on March 18 at a price of $11.68; 9,135 shares on March 19 at a price of $13.80; 13,681 shares on March 20 at a price of $13.9; 4,780 shares on March 23 at a price of $13.12; and 4,779 shares on March 24 at a price of $13.70. Since then, the price of the stock has increased by 12.85%.

Senior Vice President and Chief Financial Officer Mark Steven Bender bought 2,000 shares on March 13 at a price of $14.99. The price of the stock has increased by 3.14% since then.

Vice President and General Counsel L. Benjamin Ederington bought 1,000 shares on March 12 at a price of $16.01 and 1,000 shares on March 23 at a price of $13.83. Since then, the price of the stock has increased by 11.79%.

Director Randy Woelfel bought 4,000 shares on March 18 at a price of $11.91; 3,000 shares on March 20 at a price of $13.9; and 3,000 shares on March 23 at a price of $13.14. The price of the stock has increased by 17.66% since then.

OPKO Health

OPKO Health Inc. (NASDAQ:OPK) CEO, Chairman, and 10% Owner Phillip Frost bought 200,000 shares on March 26 at a price of $1.38. Since then, the price of the stock has increased by 1.45%.

3c781838b6df1fce4784f74581e01964.png

OPKO Health is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs. It has a development and commercial supply pharmaceutical company, a global supply-chain operation and holding company and a specialty active pharmaceutical ingredients manufacturer in Israel.

The company has a market cap of $937.76 million. Its shares traded at $1.4 as of March 27. Net loss for the third quarter of 2019 was $62.01 million compared to a net loss of $27.66 million in the prior-year quarter.

Frost also bought 100,000 shares on March 2 at a price of $1.49; 100,000 shares on March 3 at a price of $1.47; 300,000 shares on March 10 at a price of $1.61; and 100,000 shares on March 19 at a price of $1.49. The price of the stock has decreased by 6.04% since then.

Director Anthony J. Japour bought 500 shares on March 3 at a price of $1.47 and 500 shares on March 12 at a price of $1.51. Since then, the price of the stock has decreased by 7.28%.

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.

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

This article first appeared on GuruFocus.