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Top Insider Trades 12/11/12: NSH, PBYI, CONN, EPHC

|Includes:CONN, EPHC, NuStar GP Holdings, LLC (NSH)

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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, December 11, 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
Wan Mark A DIR,BO Acelrx Pharm ACRX JB* $7,999,999
Martin William C BO Vitesse Semi VTSS JB* $5,250,000
Adage Capital Gp BO Puma Biotech PBYI B $2,658,550
Coliseum Capital Mgt BO Providence Svc PRSC B $1,617,838
Greehey William E DIR,BO Nustar Gp NSH B $773,064
Hill Mark E DIR Interactive Intel ININ B $483,135
Whitehead Albert E PR,DIR,BO Empire Petroleum EMPR JB* $300,013
Mackay A D David DIR Fortune Brands FBHS B $288,714
Rady Ernest S CB,DIR,BO Amer Assets Tr AAT B $271,100
Woodward Peter H DIR Fortress Intl FIGI B $187,283
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Sg 1890 BO Conns CONN JS* $57,900,500
Kao Min H CEO Garmin GRMN AS $44,752,772
Jefferies Capital BO Carrols Rest TAST JS* $23,693,632
Page Lawrence CEO,DIR,BO Google GOOG AS $19,377,674
Berenson Jeffrey L DIR Epoch Holding EPHC S $16,650,000
Jandernoa M J DIR Perrigo PRGO S $10,812,590
Mastercard Fdn BO Mastercard MA S $9,096,456
Huff John R DIR Oceaneering Intl OII S $6,448,104
Harrison Seth L DIR Heartware Intl HTWR S $5,980,151
Kash Arvin VCB Nielsen NLSN AS $5,835,800
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes