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Top Insider Trades 12/27/12: HMA, SD, CLR, OAS

|Includes:CLR, Health Management Associates Inc. (HMA), OAS, SD

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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, December 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
Fairfax Financial BO Sandridge Energy SD B $30,812,060
Al Thani Sheikh Abd DIR Amyris AMRS JB* $9,999,998
Doerr L John DIR Amyris AMRS JB* $4,999,999
Glenview Capital BO Health Mgt Assoc HMA B $4,081,500
Frost Phillip MD CEO,CB,BO Opko Health OPK B $397,470
Stice J Michael CEO Access Midstream ACMP B $302,400
Daberko David A DIR Access Midstream ACMP B $199,193
Clarke Troy A PR,COO Navistar Intl NAV B $170,994
Mitchell Noah M CEO,DIR,BO Transatlantic Petro TAT B $157,656
Borello Penny Belke DIR Community Finl CFIS JB* $145,000

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 $35,421,628
Hume Jeff B VCB Continental Res CLR S $4,565,662
Mace Roy W VP,CAO Oasis Petroleum OAS S $1,861,200
Wallack Perry A CFO Cnrstone Ondemand CSOD S $1,437,599
Bohannon Lon M PR,COO,DIR Neogen NEOG AS $1,180,215
Jacobs Joey A CEO,DIR,BO Acadia Healthcare ACHC JS* $862,423
GMT Capital BO Kraton Perf Polymers KRA S $834,945
Ungless Derek VP,SO DSW DSW S $829,399
Peterson Steven W CFO Mesa Laboratories MLAB S $827,137
Rose Edward W III DIR Drew Industries DW S $751,450

Source: | Key to Insider Title and Trans Type Codes

Stocks: HMA, SD, CLR, OAS