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Top Insider Trades 3/4/13: EXPE, AWAY, DVA, IEP

|Includes:AWAY, DVA, Expedia, Inc. (EXPE), IEP

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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 Monday, March 4, 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
Liberty Interactive BO Expedia EXPE JB* $25,272,994
Berkshire Hathaway BO Davita Healthcare DVA B $19,726,772
Icahn Carl C CB,DIR,BO Icahn Enterprises IEP B $1,001,700
Kahane William M DIR Amer Rlty Capital ARCP B $627,875
Thrasher Francis M DIR Tribute Pharm TBUFF JB* $500,000
Goldman Steven H DIR Tribute Pharm TBUFF JB* $500,000
Blakely Robert T DIR Natural Res Part NRP B $490,917
Reger Michael L BO Geltech Solutions GLTC JB* $450,000
Wold Olsen Per DIR Gilead Sciences GILD B $430,493
RGM Capital BO Guidance Software GUID B $256,879

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Av Partners VIII BO Homeaway AWAY JS* $51,300,000
Iordanou Constantine CB,PR,CEO Arch Capital ACGL S $4,919,150
Katzman Chaim CB,DIR,BO Equity One EQY S $3,846,173
Macquarie Infra Mgt DIR,BO Macquarie Infra MIC S $3,098,756
Herrman Ernie PR TJX Companies TJX S $1,574,345
Hunt Johnelle D BO Hunt J B Trans JBHT S $1,544,704
Ullyot Theodore W VP,GC,SEC Facebook FB AS $1,376,087
McIntosh Robert B VP,GC,SEC Rock Tenn RKT S $1,283,540
Christensen Roy E CB,DIR Ensign ENSG AS $1,259,834
Habicht Kevin B VP,CFO,DIR Natl Retail Props NNN S $1,217,601

Source: | Key to Insider Title and Trans Type Codes