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Top Insider Trades 10/16/12: ICPT, JNS, PCS, FAST

|Includes:FAST, Intercept Pharmaceuticals (ICPT), JNS, TMUS

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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 Tuesday, October 16, 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
Akkaraju Srinivas DIR Intercept Pharmaceuticals ICPT JB* $10,500,000
Fpr Partners BO Viasat VSAT B $7,919,860
Dai Ichi Life Ins BO Janus Capital JNS B $7,128,191
Orbimed Advisors BO Intercept Pharmaceuticals ICPT JB* $5,000,010
Casey Thomas CB,CEO,DIR Tronox TROX JB* $2,999,995
Biglari Sardar BO Cracker Barrel CBRL B $2,266,765
Langone Kenneth G DIR Unifi UFI JB* $1,128,125
Dondero James D O Nexpoint Credit Strat Fd HCF JB* $1,015,273
Meson Capital BO Lucas Energy LEI B $991,375
Gross William H O Pimco Corp & Inc Opp Fd PTY B $537,871

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Sams William M O Unifi UFI JS* $19,266,119
Kierlin Robert A DIR Fastenal FAST JS* $4,525,570
Ta Assoc O MetroPCS Comms PCS AS $3,389,202
Lucio Antonio O Visa V AS $2,622,412
VA Retirement Sys BO Blackrock Kelso Cap BKCC S $2,564,615
Sze David L DIR Linkedin LNKD AS $1,468,818
Present Suzanne DIR Unifi UFI JS* $1,453,619
Credit Suisse Ag BO Walker & Dunlop WD AS $1,291,775
Boyd Jeffery H PR,CEO,DIR Priceline Com PCLN AS $1,185,868
Pesce William J DIR Wiley John & Sons JWA JS* $1,125,500

Source: | Key to Insider Title and Trans Type Codes