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Top Insider Trades 1/11/13: SHLD, BWC, NCT, JAZZ

|Includes:BWXT, DS, JAZZ, Sears Holdings Corporation (SHLD)

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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 Friday, January 11, 2013 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
Lampert Edward S DIR,BO Sears SHLD B $13,576,982
Drw BO Scg Financial Acq SCGQ B $6,000,000
Edens Wesley R DIR Newcastle Inv NCT JB* $999,983
Nardone Randal A SEC Newcastle Inv NCT JB* $999,983
Frost Phillip MD CEO,CB,BO Opko Health OPK B $242,997
Thomas James A CB,PR,CEO Thomas Properties TPGI B $228,991
Ewbank Robert J DIR United Com Banc UCBA JB* $100,000
Cannell Capital BO Multiband MBND B $81,501
Lewis William PR,CEO Insmed INSM AB $74,313
Orr Sean F DIR Valuevision Media VVTV B $50,236

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Mason Capital Mgt BO Babcock & Wilcox BWC JS* $68,600,000
Kellogg WK Fdn Tr BO Kellogg K AS $2,965,089
Bell Leonard CEO,DIR Alexion Pharm ALXN AS $2,718,612
Enright Patrick G DIR Jazz Pharm JAZZ AS $2,363,917
GMT Capital BO Kraton Polymers KRA S $726,842
Credit Suisse Ag BO Walker & Dunlop WD AS $476,379
Leite Sharon M VP Pier 1 Imports PIR S $414,580
Hull Charles W VP,CTO,DIR 3d Systems DDD AS $354,085
Brown Stephanie L GC Lpl Financial LPLA AS $310,500
Swad Stephen M CEO,PR,DIR Rosetta Stone RST S $302,184

Source: | Key to Insider Title and Trans Type Codes