7 Of This Week's Largest Insider Stock Buys

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 |  Includes: CETV, DNDN, H, HES, HSH, MGAM, MHGC
by: Rougemont
A major market correction has created much lower stock prices, and many insiders are taking advantage of this opportunity. The amount of insider buying has surged in the last few weeks. When you see insider buying at depressed prices, it often means the shares are oversold and offer great long term value. I have provided links for each stock which verifies the insider buying filed with the SEC below. Here are the stocks:
Sara Lee Corp., (SLE) is trading around $17.50. Sara Lee makes a variety of food products, and is based in Illinois. Sara Lee has a number of well-known food brands such as Jimmy Dean, Ball Park, Hillshire Farm, Sun-Maid and others. The shares have traded in a range between $13.22 to $20.26 in the last 52 weeks. The 50-day moving average is $18.22 and the 200-day moving average is $17.92. SLE is estimated to earn about 92 cents per share in 2011 and $1.05 for 2012. The dividend is 46 cents per share, which is equivalent to a 2.6% yield. A director recently bought nearly 100,000 shares worth well over $1 million. You can see repeated insider buying.
Dendreon Corporation (NASDAQ:DNDN) is trading around $11.65. Dendreon is a biotechnology company based in Washington. The shares have traded in a range between $9.22 to $43.96 in the last 52 weeks. The 50-day moving average is $21.73, and the 200-day moving average is $33.39. This stock dropped off a cliff a couple weeks ago when Dendreon announced financial results, which indicated slower than expected sales for Provenge. A director recently bought 20,000 shares, worth about $220,000.
Hess Corporation (NYSE:HES) is trading at $61.61. Hess is a leading integrated oil and natural gas company and is based in New York. These shares have traded in a range between $52.63 to $87.40 in the last 52 weeks. The 50-day moving average is $62.84, and the 200-day moving average is $74.58. HES is estimated to earn about $7.11 per share in 2011 and $7.76 for 2012. The dividend is 40 cents per share which is equivalent to a .7% yield. John Hess, the CEO bought about 174,000 shares, which is worth about $1 million.
Hyatt Hotels Corp., (NYSE:H) is trading at $35.56. Hyatt is a leading hotel company and is based in Illinois. These shares have traded in a range between $29.81 to $50 in the last 52 weeks. The 50-day moving average is $35.82 and the 200-day moving average is $42.17. Hyatt is estimated to earn about 57 cents per share in 2011 and 93 cents for 2012. The CEO bought about 45,000 shares which is worth around $1.43 million. The stock has bounced off of recent lows, but it looks like it has downside risk based on earnings and a possible recession.
Morgans Hotel Group (NASDAQ:MHGC) is trading at $6.40. Morgans is a luxury hotel company and is based in New York. These shares have traded in a range between $4.38 to $11.46 in the last 52 weeks. The 50-day moving average is $6.45 and the 200-day moving average is $8.10. Morgans is estimated to post a loss of about $2.01 per share in 2011 and 86 cents for 2012. A director recently bought about 125,000 shares which is worth around $700,000. It's hard to get excited about this stock when estimates show possible losses for both 2011 and 2012.
Multimedia Games Holding Company (NASDAQ:MGAM) is trading at $4.57. Multimedia is a provider of gaming systems for casinos, bingo and others. These shares have traded in a range between $3.43 to $6 in the last 52 weeks. The 50-day moving average is $4.62 and the 200-day moving average is $5.19. MGAM is estimated to earn about 10 cents per share in 2011 and 20 cents for 2012. A director recently bought 50,000 which is worth about $200,000.
Central European Media Enterprises LTD. (NASDAQ:CETV) is trading at $10.36. CETV is a television broadcasting company in Europe. These shares have traded in a range between $9.39 to $26.95 in the last 52 weeks. The 50-day moving average is $14.48 and the 200-day moving average is $18.94. CETV shares have dropped sharply due to concerns over the economy in Europe. The CFO recently bought 40,000 shares which is worth about $435,000.
The data is sourced from Yahoo Finance and Insidercow.com. The information and data is believed to be accurate, but no guarantees or representations are made. Rougemont is not a registered investment advisor and does not provide specific investment advice. The information contained herein is for informational purposes only.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in HES, DNDN over the next 72 hours.