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Since my March 12 article titled "3 Stocks With Recent Intensive Insider Buying" the stocks that I featured have performed as follows:

CompanyPrice 3/11Price 4/11Change
FelCor Lodging Trust Incorporated (NYSE:FCH)$5.35$6.00+12.1%
Silver Bay Realty Trust Corp (NYSE:SBY)$19.54$21.20+8.5%
Cathedral Energy Services (OTC:CETEF)$3.85$4.17+8.3%

In this article, I will feature three additional stocks that have seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.

  2. The stock is sold by no insiders in the month of intensive purchasing.

  3. At least two purchasers increased their holdings by more than 10%.

1. Atlantic Power Corporation (NYSE:AT) operates as a power generation and infrastructure company with a portfolio of assets in the United States and Canada.

(click to enlarge)

Insider buying by insider (last 30 days)

  • Foster Duncan purchased 7,000 shares on April 1-10 and currently holds 8,700 shares or less than 0.1% of the company. Foster Duncan has been a director of the company since June, 2010.

  • John McNeil purchased 12,000 shares on March 19 and currently holds 24,500 shares or less than 0.1% of the company. John McNeil has been a director of the company since October 2004.

  • Irving Gerstein purchased 9,400 shares on March 18 and currently holds 19,800 shares or less than 0.1% of the company. Irving Gerstein has been Chairman of the Board and a director of the company since October 2004.

Insider buying by calendar month

Here is a table of Atlantic Power Corporation's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 20137,0000
March 201321,4000
February 201300
January 201300

There have been 28,400 shares purchased and zero shares sold this year.

Financials

The company reported the full year 2012 financial results on February 28 with the following highlights:

Revenue$440.4 million
Net loss$112.8 million
Cash$60.2 million
Debt$2.1 billion

Outlook

The company's 2013 guidance is as follows:

  • Project Adjusted EBITDA of $250 to $275 million.

  • Cash Available for Distribution of $85 to $100 million.

  • Payout Ratio 65% to 75%.

Competition

Atlantic Power Corporation's competitors include Southern Company (NYSE:SO). Here is a table comparing these two companies.

CompanyATSOIndustry Average (Electric Utilities)
Market Cap:573.34M41.38B2.42B
Employees:31026,43911.03K
Qtrly Rev Growth (yoy):N/A0.000.11
Revenue:440.38M16.54B819.16M
Gross Margin:0.300.430.36
EBITDA:134.43M6.59B309.31M
Operating Margin:-0.050.270.13
Net Income:-112.78M2.35BN/A
EPS:-0.972.670.01
P/E:N/A17.8416.52
PEG (5 yr expected):N/A3.563.10
P/S:1.372.501.47

Atlantic Power Corporation's valuation is in line with the industry average.

My analysis

There have been three different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. There are zero analyst buy ratings, two neutral ratings and three sell ratings with an average target price of $6.61. The company has a book value of $6.11 per share and the stock has a dividend yield of 8.12%. I believe the stock is a good pick below the book value.

2. American Realty Capital Properties (NASDAQ:ARCP) owns and acquires single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other creditworthy tenants.

(click to enlarge)

Insider buying by insider (last 30 days)

  • William Kahane purchased 30,000 shares on April 11 and currently holds 314,754 shares or 0.2% of the company. William Kahane has served as a director of American Realty Capital Properties since February 2013.

  • Nicholas Schorsch purchased 30,000 shares on April 11 and currently holds 1,234,811 shares or 0.8% of the company. Nicholas Schorsch serves as Chairman and Chief Executive Officer of American Realty Capital Properties.

  • Edward Weil purchased 10,000 shares on April 11 and currently holds 81,707 shares or less than 0.1% of the company. Edward Weil serves as President of American Realty Capital Properties.

  • Brian Jones purchased 3,000 shares on April 11 and currently holds 21,586 shares or less than 0.1% of the company. Brian Jones serves as Chief Operating Officer of American Realty Capital Properties.

  • Peter Budko purchased 30,001 shares on April 11 and currently holds 314,754 shares or 0.2% of the company. Peter Budko serves as Executive Vice President and Chief Investment Officer of American Realty Capital Properties.

  • Brian Block purchased 10,000 shares on April 11 and currently holds 64,952 shares or less than 0.1% of the company. Brian Block serves as Executive Vice President and Chief Financial Officer of American Realty Capital Properties.

Insider buying by calendar month

Here is a table of American Realty Capital Properties' insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 2013113,0010
March 2013109,8000
February 201300
January 20130282,000

There have been 222,801 shares purchased and 282,000 shares sold this year.

Financials

The company reported the full-year 2012 financial results on February 28, with the following highlights:

Revenue$16.8 million
Funds From Operations [FFO]$5.2 million
Net loss$7.3 million
Cash$2.7 million
Debt$160.4 million

Competition

The company is subject to competition in the acquisition of properties and intense competition in the leasing of its properties. The company competes with a number of developers, owners and operators of retail, industrial and office real estate. The company also may face new competitors and, due to its focus on single tenant properties located throughout the United States, and because many of its competitors are locally or regionally focused, the company will not encounter the same competitors in each region of the United States.

My analysis

There have been six different insiders buying the shares and there have not been any insiders selling the shares during the past 30 days. The company has a book value of $7.34 per share and the stock has a dividend yield of 5.64%. The stock is trading at a forward P/E ratio of 55.07. The 200 day moving average is currently at $12.71, which could be a good entry point for the stock.

3. Westshore Terminals Investment Corporation (OTCPK:WTSHF), through its limited partner interests in Westshore Terminals Limited Partnership, operates a coal storage and loading terminal at Roberts Bank, British Columbia in Canada.

(click to enlarge)

Insider buying by insider (last 30 days)

  • James Pattison purchased 23,200 shares on March 27-28. James Pattison is the president, managing director, chief executive officer, chairman and sole owner of the Jim Pattison Group, which owns more than 10% of Westshore Terminals Investment Corporation.

  • Douglas Souter purchased 1,800 shares on March 27 and currently holds 1,800 shares or less than 0.1% of the company. Douglas Souter serves as a director of the company.

  • William Stinson purchased 5,200 shares on March 21 and currently holds 25,278 shares or less than 0.1% of the company. William Stinson is Chairman, Chief Executive Officer & President of the company.

Insider buying by calendar month

Here is a table of Westshore Terminals Investment Corporation's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
March 2013529,6000
February 20139250
January 201300

There have been 530,525 shares purchased and zero shares sold this year.

Financials

The company reported the full year 2012 financial results with the following highlights:

Revenue$240.7 million
Net income$65.9 million
Cash$43.9 million
Debt$30.0 million

Outlook

Westshore is anticipating volume levels in 2013 to be higher than in 2011 and 2012 and at slightly higher rates than in 2012.

Competition

Westshore Terminals has over four decades of operation since its opening in 1970. The coal export terminal located at Roberts Bank, Delta, British Columbia, some 32 kilometres south of downtown Vancouver and only 500 metres from the United States border, is part of Port Metro Vancouver. As Canada's No. 1 export coal facility, it shipped a record 27.3 million tonnes in 2011, easily surpassing the combined total coal exports of all other Canadian facilities.

For much of the past decade, Westshore has also been the busiest single coal export terminal in all of North America, bringing in billions of dollars of export revenue for Canada and B.C.

In recent years, Westshore has proved to be an increasingly popular choice on the West Coast for United States mines, particularly in the Powder River Basin in Montana and Wyoming. U.S. shipments reached a record 8.2 million tonnes in 2011.

My analysis

There have been three different insiders buying the shares and there have not been any insiders selling the shares during the past 30 days. The stock has a $51.5 price target from the Point and Figure chart. The stock is trading at a P/E ratio of 31.38 and the company has a book value of $5.96 per share. The stock has a dividend yield of 4.59%. I have a cautiously bullish bias for the stock currently based on the intensive insider buying.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in AT over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Source: 1 Financial, 1 Electric Utility And A Coal Terminal With Recent Intensive Insider Buying