Seeking Alpha
Long/short equity, research analyst, insider ownership, behavioral finance
Profile| Send Message|
( followers)  

Summary

  • Tables of the top insider purchases and sales filed with the SEC on June 24, 2014, based on dollar value.
  • Dollar values often do not equate with significance when it comes to insider trades.
  • Proprietary Insider Company Ratings are further given for selected companies.

I cannot repeat enough that dollar value is only one metric to assess the significance of an insider transaction. InsiderInsights calculates Insider Filer Statistics in real time, and formulates Insider Company Ratings based on numerous behavioral factors, so our clients can separate real investment intelligence from time-wasting noise.

On Today's Tables:

Insider trades were rated Significant at:

  • Merrimack Pharmaceuticals (NASDAQ:MACK);
  • Phillips 66 (NYSE:PSX);
  • Hercules Offshore (NASDAQ:HERO), and;
  • Republic Services (NYSE:RSG).

Insider trades were rated Nearly Significant at:

  • Mercer International (NASDAQ:MERC);
  • China Cord Blood (NYSE:CO);
  • Credit Acceptance Corp (NASDAQ:CACC), and;
  • Achillion Pharmaceuticals (NASDAQ:ACHN)

Insider trades were considered Insignificant at:

  • Blue Capital Reinsurance (NYSE:BCRH);
  • General Growth Properties (NYSE:GGP);
  • Forest City Enterprises (NYSE:FCE.A), and;
  • Salesforce.com (NYSE:CRM).

The Insider Purchase at ZS Pharma (NASDAQ:ZSPH) was associated with its recent IPO. This was nice to see, but it's difficult to argue significance for transactions by insiders without track records of unseasoned shares.

For more on how to profit from our Daily Round Up tables and analyze insider data, see references below.

Insider Purchases

#:Filer NameInsider TitlesCompany NameTickerTrans
Type
Dollar Value
1Cascade InvBORepublic ServicesRSGB$11,250,120
2Novo A SBOZs PharmaZSPHJB*$4,950,000
3Ireland RupertCEO,BOVirtus Oil & GasVOILJB*$1,999,200
4Kellogg Peter RBOMercer IntlMERCB$697,040
5Montpelier ReBOBlue Capital ReBCRHB$355,673
6Loomis WilliamDIRPhillips 66PSXB$299,841
7McCarthy Kent CBOChina Cord BloodCOB$295,410
8Crocker Gary LDIRMerrimack PharmMACKB$246,240
9Porter Michael EDIRMerrimack PharmMACKB$221,548
10Rynd John TCEO,PR,DIRHercules OffshoreHEROB$144,360

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes:
B =Open-market Buy; AB=10b5-1 (automatic) Buy; JB*=Buy indicated as being open-market, but not confirmed by trading price range and volume for the session.

Insider Sales

#:Filer NameInsider TitlesCompany NameTickerTrans
Type
Dollar Value
1Watson Jill FossBOCredit AcceptanceCACCJS*$67,333,488
2Ra Capital MgtBOAchillion PharmACHNS$7,390,400
3Abu Dhabi InvBOGeneral Growth PrGGPS$7,136,708
4Ratner James AVP,BOForest City EntFCEAJS*$3,789,935
5Datatax Bus SvsBOJth HoldingLTAXAJS*$3,609,617
6Benioff MarcCB,CEOSalesforce ComCRMAS$2,308,321
7Harold Simmons FdnOValhiVHIS$2,169,863
8Borick Steven JBOSuperior IndustriesSUPS$1,072,458
9Sherman John JDIR,BOCrestwood MidstrCMLPAS$1,050,826
10Essig StuartDIRIntegra LifesciencesIARTAS$1,021,170

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes:
S =Open-market Sale; AS=10b5-1 (automatic) Sale; JS*=Sale indicated as being open-market, but not confirmed by trading price range and volume for the session.

An important note from Jonathan Moreland, founder of InsiderInsights.com:

In a victory for common sense, it's been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders".

Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations.

At InsiderInsights.com, our clients find new investment ideas every day using more intricate insider screens to determine where they should focus their subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be profitable indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these daily articles as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to email us with any questions on our proprietary insider data, filer statistics, and company ratings.

I should also relay that you could have seen the trades on today's Daily Round Up tables within hours of being filed, by signing up for our Free Intra-Day Top Trades Alerts.

Source: InsiderInsights.com Daily Round Up: 6/24/14