Stocks With Insider Buying, Buybacks: DTV

President and CEO Chase Carey said: "We expect 2008 to be a year in which we take DIRECTV to a whole new level in terms of profitability and cash flow growth. We took an important step toward this goal in the first quarter as DIRECTV U.S. generated $603 million in cash flow before interest and taxes, representing a 76% increase over the prior year."

We like to see that Deutsche Bank reiterated its buy rating on the stock and increased its price target by $2 to $36. The analysts from Deutsche Bank believe that DirecTV offers a significant advantage in HD; strong growth, especially in Latin America; peaking costs; and positive effects form the buyback. They also believe the stock is trading inexpensively.

Mason Hawkins is a well-regarded investor who owns DirecTV. He has been in the investment business for more than 25 years and manages Southeastern Asset Management, which controls over $31 billion in assets. He recently opened new positions in Limited Brands(LTD Quote - Cramer on LTD - Stock Picks) and drugstore chain Walgreen(WAG Quote - Cramer on WAG - Stock Picks).

Another noteworthy firm that likes DirecTV is Tudor Investment. Founded in 1980 by Paul Tudor Jones II, the firm currently manages $15.4 billion. Its investment strategies include global macro trading, fundamental equity investing in the U.S. and Europe, emerging markets, venture capital, commodities, event-driven strategies and technical trading systems. It recently bought Google(GOOG Quote - Cramer on GOOG - Stock Picks) and electric power company Entergy(ETR Quote - Cramer on ETR - Stock Picks).

So we have a buyback, excellent earnings, a buy rating with increased targets, and two successful investors into the stock. It may be time to take a closer look at DirecTV.

Next on the list is Polycom(PLCM Quote - Cramer on PLCM - Stock Picks). The communications equipment maker recently said its board approved the repurchase of up to $300 million in common stock. As of March 2008, the company had approximately $80 million remaining under its previous buyback plan and about 88.5 million shares outstanding. The timing and amount of the repurchases will depend on market conditions.

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