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Top Insider Trades 1/25/13: BAC, LGND, PCRX, BDBD

|Includes:Bank of America Corporation (BAC), BDBD, LGND, PCRX

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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 25, 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
Bvf Partners L P Il BO Ligand Pharm LGND B $783,181
Yost R David DIR Bank Of America BAC B $230,600
Cannell Capital BO Multiband MBND B $102,345
Maggiore Christopher BO Health Enhancement HEPI B $51,396
Woodford Buckner DIR Kentucky Bancshares KTYB B $43,480
Buck William G DIR Cardinal Financial CFNL B $24,480
Beck Wendy A VP,CFO Norwegian Cruise Line NCLH JB* $22,800
Elliott James L VP Kentucky Bancshares KTYB B $19,750
Prichard Louis PR,CEO,DIR Kentucky Bancshares KTYB B $14,283
Williams Tryon M CB,DIR,BO Bingo Com BNGOF B $10,000

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Mastercard Fdn BO Mastercard MA S $18,493,454
Sanderling Vent Part BO Pacira Pharm PCRX JS* $9,465,000
Adage Capital Gp BO Boulder Brands BDBD S $2,985,435
Hamlin Clay W III DIR Corp Office Props OFC AS $2,941,266
Addington Hills BO Ixia XXIA S $2,524,145
Dixon Denmar John VCB,VP,DIR Walter Investment WAC AS $2,368,634
Schulman Daniel H PR American Express AXP S $2,149,506
Hagedorn James CB,CEO,BO Scotts Miracle Gro SMG AS $1,675,959
Weber Robert C VP IBM IBM S $1,473,460
Klinck John L Jr VP State Street STT S $1,208,244

Source: | Key to Insider Title and Trans Type Codes