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Top Insider Trades 9/27/12: PROG, JAX, HMPR, GIII

|Includes:GIII, HMPR, J. Alexander's Holdings, Inc. (JAX)

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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 Thursday, September 27, 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
Fidelity Natl Fin BO Alexanders J JAX JB* $27,632,448
Acmo Hr DIR,BO Hampton Roads HMPR JB* $11,205,000
Bird Jeffrey W DIR Horizon Pharma HZNP B $2,007,993
Young Capital Mgt O Lucas Energy LEI JB* $1,192,500
Fort Ashford BO Food Technology VIFL JB* $460,142
Frost Phillip MD et al CEO,CB,BO Opko Health OPK B $309,656
Carson Tom PR,CEO,DIR ROVI ROVI AB $225,000
Abrams Capital Mgt BO Engility EGL B $179,944
Kellogg Peter R BO Mercer International MERC JB*,B $84,370
Adams Nicholas C FO First Opportunity Fund FOFI B $58,366

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Schmidt Eric E CB,DIR Google GOOG AS $44,804,821
Brown Brothers Harriman BO Deltek PROJ S $36,027,756
Foley William P II DIR Fidelity Natl Fin FNF S $10,602,738
Bailey Gregory DIR Medivation MDVN AS $3,358,000
Lithia Holding Co BO Lithia Motors LAD JS*,AS $3,342,439
Fries Michael T PR,CEO,DIR Liberty Global LBTYK JS* $2,788,000
Nostra Katz Jeanette PR G III Apparel GIII S $1,157,764
Addington Hills BO Ixia XXIA S $802,510
Kellogg W K Foundation BO Kellogg K AS $520,000
Powers John J VP,SO Aep Industries AEPI S $499,560

Source: | Key to Insider Title and Trans Type Codes