9 Stocks With CEO Buys of Over $100,000 in the Past Week

by: The Keating Letter

Below are 9 stocks where the CEO has bought company stock in the past week. Each of these purchases are of a significant enough size to attract attention in the market and two, in my opinion, are particularly noteworthy. Chesapeake Energy (NYSE:CHK) CEO Aubrey McClendon almost went broke when he owned stock on margin in 2008. He’s back this week with a major purchase. In addition, new Sears (NASDAQ:SHLD) CEO Lou D’Ambrosio ponied up $1 million for company shares last week.

Here are the 9 stocks from the past week with CEO buys of at least $100,000:

Chesapeake Midstream Partners (CHKM): This company was formed last year from Chesapeake Energy and Global Infrastructure Partners as a Master Limited Partnership (MLP). CHKM operates pipelines and is 84% owned by the two companies above. If you’re interested in learning more, there was a good article written recently entitled Chespeake Midstream: Problems with Potential. CHKM obviously is heavily dependent on Chesepeake Energy. CEO Michael Stice bought $100,000 worth of shares on March 7 and now owns more than 12,000 shares.

Chesapeake Energy (CHK): Joining Stice in his bullishness was CEO Aubrey McClendon. He bought nearly $500,000 of company stock on the open market on March 8. CHK’s board has been under pressure for giving huge bonuses and options to McClendon since a margin call in 2008 wiped him out. You may remember that they even purchased his vintage maps. Carl Icahn’s recent stock purchases seem to be sobering CHK up a bit. Let’s just hope that McClendon didn’t use leverage for this purchase.

Western Asset Emerging Markets Income Fund II (NYSE:EDF): EDF is a closed end fund focusing on emerging markets. CEO Peter Wilby bought 5,000 shares on March 8 totaling about $120,000.

The Bancorp (NASDAQ:TBBK): This cleverly named bank held a public offering on March 2 and raised $50 million. CEO Betsy Cohen participated in the offering by purchasing 97,500 shares, totaling about $804,000. The Bancorp serves small and medium size businesses in the Philadelphia and Wilmington, DE area.

Western Gas Partners, LP (NYSE:WES): Western Gas Partners is an MLP formed by Anadarko Petroleum. They priced a public offering at $35.15 on March 1 and CEO Donald Sinclair participated by purchasing 11,380 shares. The proceeds are being used to pay down a line of credit. Their dividend yield is currently 4.4%.

Cenevo (NYSE:CVO): CEO Robert Burton purchased $387,000 worth of shares on March 4. He currently owns almost 5% of the company. Cenevo makes envelopes, forms, and labels, and does commercial printing. The company recently announced a quarterly loss of $0.16 and made two acquisitions last quarter, including buying the envelopes products group from MeadWestvaco.

China TransInfo Technology (NASDAQ:CTFO): After making two recent purchases, CEO Xia Shudong made another purchase on March 3. This time he bought about $104,000 worth of shares. I discussed his purchases last week. CTFO is a Chinese technology company that focuses on transportation planning, toll collection, taxi monitoring and other related applications.

CleanTech Innovations (OTCQB:CTEK): CleanTech is another stock I mentioned last week. CEO Lu Bei bought $240,000 of shares on March 3 after also buying $240,000 of shares on March 1. He owns more than 50% of the outstanding shares.

Sears Holdings (SHLD): Eddie Lampert released the company’s annual letter two weeks ago and announced that Lou D’Ambrosio would be taking over as CEO. D’Ambrosio immediately purchased about $1 million worth of stock. Previous CEO Bruce Johnson had served as the interim CEO for three years. Sears' stock ran up above $120 per share in May last year, but recently has traded in the $85 range. It has been incredibly volatile through the years, but apparently D’Ambrosio feels comfortable making this substantial investment now.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.