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Top Insider Trades 2/12/13: AXS, NXST, SLGN, SREV

|Includes:Axis Capital Holdings Limited (AXS), NXST, SLGN, SREV

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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, February 12, 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
Zugel Christian CB,DIR Zais Financial ZFC B $400,400
Woodward Peter H DIR Fortress Intl FIGI JB* $319,204
Smerklo Michael A CEO,CB,DIR ServiceSource Intl SREV B $296,722
Penn Arthur H CB,CEO,FO Pennantpark FR Cap PFLT JB*,B $236,224
Wynnefield Sm Cap Val BO Trans World TWOC B $228,000
Szymanski Michael CEO,PR,DIR Zais Financial ZFC B $199,622
Crowley Denise DIR Zais Financial ZFC B $199,619
Kinsey E Wayne DIR,BO Int EnviroTech IEVM JB* $125,000
RGM Capital BO Guidance Software GUID B $119,771
King Stephen V DIR First Busey BUSE B $119,016

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Trident II DIR Axis Capital Holdings AXS JS* $107,396,752
Yudroff Royce DIR,BO Nexstar NXST JS* $41,250,000
Horrigan D Greg DIR,BO Silgan SLGN S,JS* $21,752,491
Mastercard Fdn BO Mastercard MA S $18,569,602
Page Lawrence CEO,DIR,BO Google GOOG AS $16,223,992
Greenspring Assoc BO Exacttarget ET S $9,270,788
Davis Henry R DIR Kansas City Southern KSU S $6,355,718
Miller Mark C CB,DIR Stericycle SRCL S $1,952,010
VA Retirement Sys BO Blackrock Kelso Cap BKCC S $1,894,826
Nickerson Randy S VP Markwest Energy LP MWE AS $1,142,884

Source: | Key to Insider Title and Trans Type Codes