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Top Insider Trades 11/19/12: TPCA, JCP, TRGT, GLW

|Includes:CBIO, GLW, J.C. Penney Company Inc. (JCP)

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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 Monday, November 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
Cascade Investment BO Republic Svs RSG B $61,193,808
EMC BO VMware VMW B $10,994,234
Dai Ichi Life Ins BO Janus Capital JNS B $10,993,155
Icahn Carl C DIR,BO Tropicana Ent TPCA B $9,896,134
Bvf Partners L P Il BO Targacept TRGT B,JB* $5,242,308
Teruel Javier G DIR J C Penney JCP B $2,013,578
Gund Gordon DIR Corning GLW B $1,828,639
Elliott International BO Emulex ELX B $1,267,279
Broadwood Partners DIR,BO Biotime BTX JB* $1,000,001
Goudis Richard COO Herbalife HLF B $998,778

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Wish Barry N DIR Ocwen Financial OCN S $8,510,800
Kellogg WK Fdn BO Kellogg K AS $8,107,530
Bardis John A CB,PR,CEO Medassets MDAS S $6,181,463
Doerr L John DIR Google GOOG AS $5,003,864
Pendarvis David O Resmed RMD S $3,323,317
Migura Marvin J VP Oceaneering Intl OII S $2,489,955
Harrison D Marriott BO Marriott Intl MAR S $2,443,435
Marriott Richard E CB Host Hotels HST S $2,373,190
McEvoy M Kevin PR,CEO,DIR Oceaneering Intl OII S $2,345,922
Davis Kendall B VP Gartner IT S $2,273,000

Source: | Key to Insider Title and Trans Type Codes

Stocks: JCP, CBIO, GLW