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Top Insider Trades 4/2/13: ATVI, SCS, KSS, IRWD

|Includes:Activision Blizzard, Inc (ATVI), IRWD, KSS, SCS

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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, April 2, 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
Carpenter Fund DIR,BO Pac Merc Banc PMBC JB* $14,999,998
Srinivasan Mallika DIR AGCO AGCO AB $13,514,070
Atwood Thomas G DIR,BO Fnb Bancorp Ca FNBG JB* $5,761,960
Tansey Joseph B CEO,DIR,BO Garrison Capital GARS B $1,000,005
Hooke James CEO Macquarie Infra MIC JB* $681,410
Frost Phillip MD CEO,CB,BO Opko Health OPK B $498,607
Astruc Rafael DIR Garrison Capital GARS B $195,000
Guthrie Roy A DIR Garrison Capital GARS B $150,000
Streeter Stephanie DIR Kohls KSS B $113,450
North Star Inv BO Acme United ACU B $106,201

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Kotick Robert A PR,CEO,DIR Activision Blizzard ATVI JS* $12,284,200
Frazier Laura BO Brown Forman BFB JS* $6,000,134
FMR BO Ironwood Pharm IRWD S $2,908,530
Crawford William DIR Steelcase SCS S $2,382,142
Zuk Nir CTO,DIR Palo Alto Net PANW AS $1,657,238
Alon Israel Oil BO Alon Usa Energy ALJ S $1,446,302
Whitcomb Wayne CTO Demandware DWRE AS $971,022
Koch C James CB,DIR,BO Boston Beer Co SAM S $955,033
Mace Roy W VP,CAO Oasis Petroleum OAS AS $931,250
Cornelius James DIR Bristol Myers BMY AS $826,800

Source: | Key to Insider Title and Trans Type Codes