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Top Insider Trades 9/19/12: CBRL, CHSP, TUES, HK

|Includes:Cracker Barrel Old Country Store, Inc. (CBRL), CHSP, HK, TUES

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

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Wednesday, September 19, 2012 as ranked by dollar value.

Please note, however, that these are factual lists (with edits to remove some noise), not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

We should also point out that we are presently in a slow filing time for insiders because many companies still have their trading windows closed to their executives until their June quarter earnings are released.

But at, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our 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 good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these regular blog posts 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 with any questions on our proprietary insider data, and how it is best analyzed.

Insider Purchases
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Rlj Spac Acquisition BO Rlj Acquisition RLJA B $3,999,900
Biglari Sardar BO Cracker Barrel CBRL B $1,688,405
Dondero James D O Nexpoint Credit Str Fd HCF JB* $1,005,972
Frost Phillip MD CEO,CB,BO Opko Health OPK B $110,913
Natelli Thomas A DIR Chesapeake Lodging Tr CHSP JB* $92,500
Hunckler William J III DIR Tuesday Morning TUES B $79,980
Cox John D DIR New Peoples Banksh NWPP JB* $47,004
McKenzie George F DIR Chesapeake Lodging Tr CHSP JB* $27,750
Dagostino James Samuel DIR Basic Energy Services BAS B $25,052
Castellano Michael J DIR BR Build Amer Bond Tr BBN B $23,051

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Encap Energy Cap Fd BO Halcon Resources HK JS* $281,750,016
Blackstone Mgt BO Team Health TMH JS* $223,360,000
Apax Managers DIR,BO Realpage RP JS*,S $98,999,996
Hagerty Thomas M DIR Fidelity Natl Info FIS S $86,319,696
Sab Capital Advisors BO Amer CapMort Inv MTGE S $28,918,720
Pescio Carl A DIR Allied Nevada Gold ANV S $22,979,500
Brody Christopher W DIR Intuit INTU S $8,564,774
Bohlsen John DIR Bankunited BKU AS $3,719,747
Fisher Itzhak VP Nielsen NLSN AS $3,239,897
Vassalluzzo Scott J BO,DIR Credit Acceptance CACC S $3,152,224

Source: | Key to Insider Title and Trans Type Codes