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One name in the business services complex where key insiders have been doing some notable buying in is
Monster Worldwide(MWW - Get Report). This company provides global online employment solution. With a presence in approximately 55 countries globally, including key markets in North America, Europe, Asia and Latin America, Monster offers online recruiting solutions. This is another name where insiders are finding some deep value since shares of Monster are down huge by over 55% so far in 2011.
This company has a market cap of $1.19 billion and an enterprise value of $1.14 billion. This stock is trading at a very high trailing price-to-earnings of 186, but a more reasonable forward price-to-earnings of 12.9. Monster's estimated growth rate for this year is 714% and for next year it's pegged at 74%. This company has just a bit more cash on their balance sheet than debt, with $199 million in total cash and around $122 million in total debt.
The CEO and chairman of the board just
bought 50,000 shares, or $408,500 worth of stock, at $8.17 per share. From a technical standpoint, this stock is currently trading below both its 50-day and 200-day moving averages, which is bearish. The stock has been stuck in a nasty downtrend for most of 2011 where shares have been making lower highs and lower lows. That downtrend accelerated this month with the stock dropping from over $12 a share to its recent low of $7 a share. Since that slide, the stock has now rebounded back up to over $9.50 a share.
If you want to buy this stock, I would look to get long on a light volume pullback toward $8.50 to $8.30 a share. Don't chase the recent spike, let this come in a bit and buy it as long as the stock remains above $8 a share. I would then add to any long position once it trades above its 50-day moving average of $11.48 on strong volume. Look for volume that's tracking in at close to or greater than its three-month average action of 3.6 million shares.