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Weekly CFO Buys Highlights

- By Myra Ramdenbourg

According to GuruFocus Insider Data, the recent chief financial officer (CFO) buys were: Cree Inc. (CREE) and Kingsway Financial Services (KFS).

Cree CFO bought 5,000 shares

Executive Vice President and CFO Michael E. McDevitt bought 5,000 shares for $22.2 per share on Oct. 21. The stock price has decreased by 2.79%.


Cree has a market cap of $2.15 billion, and its shares were traded around $21.58. The company has a price-sales (P/S) ratio of 1.44.

Cree announced its second-quarter results with revenues of $388.41 million and gross profit of $113.02 million while the net loss was $10.64 million. The 2016 total revenue was $1.62 billion, a 1% decrease from the 2015 total revenue. The 2016 gross profit was $487.07 million, a 3% increase from the 2015 gross profit. The 2016 net income was $21.54 million.

Chairman, President, and CEO Charles M. Swoboda bought 10,000 shares for $22.22 per share on Oct. 20. The stock price has decreased by 2.88%. Director Darren R. Jackson bought 10,000 shares for $22.85 per share on Oct. 24. The stock price has decreased by 5.56%. Director John B. Replogle bought 5,000 shares for $22.34 per share on Oct. 20. The stock price has decreased by 3.4%.

Kingsway Financial Services CFO bought 266 shares

Chief Operating Officer, CFO and Executive Vice President William August Hickey Jr. bought 266 shares for $5.67 per share on Oct. 28. The stock price has decreased by 0.35%. Kingsway Financial Services has a market cap of $112.110 million, and its shares were traded around $5.65. The company has a P/S ratio of 0.73.

Kingsway Financial Services announced its second-quarter results with revenues of $42.2 million while the net loss was $510,000. The 2016 total revenue was $161.43 million, a 10% increase from the 2015 total revenue. The 2016 net income was $1.11 million.

CEO and President Larry G. Swets Jr. bought 367 shares for $5.67 per share on Oct. 28. The stock price has decreased by 0.35%. Vice President Hassan Baqar bought 126 shares for $5.67 per share on Oct. 28. The stock price has decreased by 0.35%. Executive Vice President John Taylor Maloney Fitzgerald bought 110 shares for $5.67 per share on Oct. 28. The price of the stock has decreased by 0.35%.

Disclosure: None.

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This article first appeared on GuruFocus.