Weekly Top Insider Buys: SAIC Inc., Petrohawk Energy Corp., Charming Shoppes Inc., BlackRock Corporate High Yield Fund V Inc., and Inospec Inc.

Weekly Top Insider Buys: SAI, HK, CHRS, HYV, IOSP

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Apr 11, 2010
Weekly highlight of top insider buys: SAIC Inc. (SAI, Financial), Petrohawk Energy Corp. (HK, Financial), Charming Shoppes Inc. (CHRS, Financial), BlackRock Corporate High Yield Fund V Inc. (HYV, Financial), and Innospec Inc. (IOSP, Financial).



SAIC Inc. (SAI): Chairman of the Board Kenneth C Dahlberg Bought 8,750 Shares



Chairman of the Board of SAIC Inc., Kenneth C Dahlberg, bought 8,750 shares on 4/08/10 at an average price of $17.51.

SAIC Inc. is a scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. Saic Inc. has a market cap of $6.93 billion; its shares were traded at around $17.51 with a P/E ratio of 13.9 and P/S ratio of 0.6.



On March 30, SAIC Inc. reported results for the fourth quarter of 2009. Revenues for the quarter were $2.68 billion, up 7 percent from $2.52 billion in the fourth quarter of fiscal year 2009. Full-year revenues were $10.85 billion, up 8 percent from fiscal year 2009. Internal revenue growth, which includes year-over-year performance of acquisitions, represented 4 percentage points of the consolidated revenue growth for the quarter and 6 percentage points of the consolidated revenue growth for the fiscal year.



SAIC Inc. is in the portfolios of two Gurus: Ron Baron and George Soros.

In December, Buy:: CEO Walter P Havenstein bought 28,000 shares of SAI stock. Last week, Buy:: Chairman of the Board Kenneth C Dahlberg bought 8,750 shares; Sell:: Executive Vice President Arnold L Punaro, Sell:: Director Jere A Drummond, Sell:: Executive Vice President Joseph P Walkush and Sell:: Director Anita K Jones all sold shares in January.



Petrohawk Energy Corp. (HK): Director Stephen P Smiley Bought 4,500 Shares

Director of Petrohawk Energy Corp., Stephen P Smiley, bought 4,500 shares on 4/06/10 at an average price of $22.72.

Petrohawk Energy Corporation is an independent energy company engaged in the acquisition, production, exploitation, exploration and development of oil and gas properties. Petrohawk Energy Corp. has a market cap of $6.84 billion; its shares were traded at around $22.72 with a P/E ratio of 64.9 and P/S ratio of 6.4.



On February 22, Petrohawk Energy Corp. reported results for the fourth quarter of 2009. Cash flows from operations before changes in working capital (cash flow from operations, a non-GAAP measure) were $179.6 million, or $0.60 per fully diluted common share for the quarter, and $613.8 million, or $2.19 per fully diluted common share, for the full year. Petrohawk generated revenues of $354.9 million for the quarter ended December 31, 2009 and revenues of over $1 billion for the full year 2009. Petrohawk reported net income for the quarter of $0.12 per fully diluted common share, or $36.5 million.



Petrohawk Energy Corp. is in the portfolios of five Gurus: NWQ Managers, David Williams, John Griffin, Ruane Cunniff, and John Keeley.



Sell:: Chairman of Board and CEO Floyd C Wilson sold 11,910 shares of HK stock in January. Last week, Buy:: Director Stephen P Smiley bought 4,500 shares of HK stock on 04/06/2010 at the average price of 22.06, the price of the stock has increased by 2.99% since. In March, Buy:: Director Christopher A Viggiano and Buy:: Director Gary A Merriman both bought shares; Buy:: VP - Investor Relations Joan W Dunlap bought 4,000 shares in November and Sell:: Vice Chairman James W Christmas sold 7,100 shares in December.



Charming Shoppes Inc. (CHRS): Director Richard Wilson Bennet III Bought 5,000 Shares

Director of Charming Shoppes Inc., Richard Wilson Bennet III, bought 5,000 shares on 4/07/10 at an average price of $5.73.

Charming Shoppes operates women's specialty apparel stores under the names Fashion Bug, Fashion Bug Plus, Catherine's, PS. Charming Shoppes Inc. has a market cap of $663.4 million; its shares were traded at around $5.73 with and P/S ratio of 0.3.



On March 30, Charming Shoppes Inc. reported a net sales decrease of $92.9 million or 14.7%, reflecting a 12% decrease in comparable store sales, the impact of 152 net store closings, and a 10% increase in e-commerce sales. Average same store inventories were down 6% for the quarter; and at the end of the quarter, same store inventories increased 1%.



Charming Shoppes Inc. is owned by two Gurus: Michael Price and Robert Rodriguez.



Last week, Buy:: Director Richard Wilson Bennet III bought 5,000 shares of CHRS stock.



BlackRock Corporate High Yield Fund V Inc. (HYV): Portfolio Manager James Keenan Bought 4,000 Shares

Portfolio Manager of BlackRock Corporate High Yield Fund V Inc., James Keenan, bought 4,000 shares on 4/05/10 at an average price of $11.33.

Blackrock Corporate High Yield Fund V Inc. has a market cap of $389.9 million; its shares were traded at around $11.33 . The dividend yield of Blackrock Corporate High Yield Fund V Inc. stocks is 8.8%.



Last week, Buy:: Portfolio Manager James Keenan bought 4,000 shares of HYV stock. He also bought shares in March.

Innospec Inc. (IOSP): Director Hugh Aldous Bought 3,000 Shares

Director of Innospec Inc., Hugh Aldous, bought 3,000 shares on 4/06/10 at an average price of $12.17.

Octel Corp. is a major manufacturer and distributor of fuel additives and other specialty chemicals. Innospec Inc. has a market cap of $289 million; its shares were traded at around $12.17 with a P/E ratio of 7.5 and P/S ratio of 0.5.

On February 16, 2010, Innospec Inc. announced its financial results for the fourth quarter and full year ended December 31, 2009. Total net sales for the fourth quarter were $164.2 million, down 2% from $168.0 million in the corresponding period last year. Net loss was $(0.3) million, or $(0.01) per diluted share, compared with net income of $5.0 million, or $0.20 per diluted share, a year ago.



In February, Buy:: Exec VP & CFO Ian Cleminson bought 2,375 shares of IOSP stock.

For the complete list of stocks that bought by their company executives, go to: Insider Buys.