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There are many different strategies to trade and one of them is to find insider trading of stocks. Any insider trading from corporate officers, key employees, vice presidents, directors, senior management or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade. Legal insider trading cannot be based on material non-public information; however, most investors believe that corporate insiders may have better insights into the growth of a company and its proceedings.

In this article, I will focus on notable insider sell transactions from mid-cap companies (market cap between $2 billion and $10 billion) filed at the Securities and Exchange Commission on July 9, 2012. I have also included the key financial position of each company. You can use this list as a potential starting point for your analysis.

1. The Blackstone Group L.P. (NYSE:BX): The Blackstone Group L.P., together with its subsidiaries, provides alternative asset management and financial advisory services worldwide. It operates in five segments: Private Equity, Real Estate, Hedge Fund Solutions, Credit Businesses, and Financial Advisory. Blackstone has a market cap of $15.97 billion and is currently trading around $12.98 with a 52-week range of $10.51 to $17.78.The stock has fallen 7.35% year to date.

According to SEC filings on July 9, 2012, Blackstone Management Associates IV LLC (Beneficial Owner) sold a total of 9,125,000 shares at a total value of $209,875,000. Over the past three months, there have been a total of five insider transactions with three Sell transactions. The key financial metrics for Blackstone are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

2. Arena Pharmaceuticals, Inc (NASDAQ:ARNA): Arena Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, engages in discovering, developing, and commercializing oral drugs that target G protein-coupled receptors in the therapeutic areas of cardiovascular, central nervous system, inflammatory, and metabolic diseases. Arena Pharmaceuticals has a market cap of $2.09 billion and is currently trading around $11.46 with a 52-week range of $1.23 to $13.50.The stock has gained 512.83% year to date.

According to SEC filings on July 09, 2012, Hoffman Robert (SVP, Finance and CFO) sold a total of 10,000 shares at a total value of $110,000. Over the past three months, there have been a total of 3 insider transactions with 3 Sell transactions. On June 27, 2012, Arena Pharmaceuticals and Eisai Inc. announced that the US FDA has approved BELVIQ (weight loss drug). Arena Pharmaceuticals has still more potential to grow based on EMA approval and potential revenue generation from BELVIQ. For the anti-obesity drugs, Arena is competing with Orexigen Therapeutics' (NASDAQ:OREX) Contrave drug and Vivus Inc.'s (NASDAQ:VVUS) Qnexa drug. The key financial metrics for Arena Pharmaceuticals are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

3. Lennox International Inc. (NYSE:LII): Lennox International Inc., through its subsidiaries, engages in the design, manufacture, and market of climate control products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. Lennox International has a market cap of $2.41 billion and is currently trading around $47.28 with a 52-week range of $24.37 to $48.39. The stock has gained 40.09% year to date.

According to SEC filings on July 9, 2012, Blatz Michael (EVP, Pres, COO Service Experts) sold a total of 7,136 shares at a total value of $342,528 and this sale was effected pursuant to a Rule 10b5-1 trading plan. Over the past three months, there have been a total of 29 insider transactions with 20 Sell transactions. The key financial metrics for Lennox International are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

4. MSC Industrial Direct Co Inc (NYSE:MSM): MSC Industrial Direct Co Inc, together with its subsidiaries, operates as a direct marketer and distributor of metalworking and maintenance, repair, and operations ((NYSE:MRO)) products to industrial customers in the United States. MSC has a market cap of $3.94 billion and is currently trading around $62.81 with a 52-week range of $49.72 to $84.76. The stock has fallen 12.22% year to date.

According to SEC filings on July 9, 2012, Jacobson Mitchell (Beneficial Owner & Director) sold a total of 5,000 shares at a total value of $326,500. Over the past three months, there have been a total of 9 insider transactions, with 7 Sell transactions. The key financial metrics for MSC are given below:

The following chart provides the insider trading summary for three-month and 12-month periods.

Sources: Some of the data is sourced from Google Finance, Nasdaq, Finviz, Fidelity and SEC.gov.

Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in ARNA, BX, LII, MRO, MSM, OREX, VVUS over the next 72 hours.

Additional Disclosure: I change my positions very frequently and may initiate either long or short positions in the above mentioned stocks at any time.

Disclaimer: I am not a registered investment advisor and do not provide specific investment advice. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock you should do your own research and reach your own conclusion. It is up to investors to make the correct decision after necessary research. The information and data is believed to be accurate, but no guarantees or representations are made.

Source: Notable Mid-Cap Insider Sells On July 9