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Top Insider Trades 4/11/13: SABA, ARCP, TWOC, ZTR

|Includes:VEREIT Inc. (VER), ZTR

Daily Top Insider Trades Instablog

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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 Thursday, April 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
Ardsley Advisory BO Saba Software SABA B $1,378,000
Budko Peter M VP,FO Amer Rlty Cap ARCP B $470,629
Kahane William DIR Amer Rlty Cap ARCP B $470,613
Schorsch Nicholas CB,CEO,DIR Amer Rlty Cap ARCP B $470,613
Pendinas BO Bingo Com BNGOF JB* $450,000
Miller Lloyd I III BO Trans World TWOC B $328,250
Neel Carlton VP Zweig Tot Ret Fd ZTR B $193,050
Frost Phillip Md CEO,CB,BO Opko Health OPK B $141,910
Newberry Gary VP Callon Petroleum CPE B $99,645
Lipman Raymond PR,CEO,DIR Westbury Bancorp WBB JB* $79,586

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Towerview BO Fisher Comms FSCI S $36,788,448
Morfit G Mason DIR Bard C R BCR S $30,742,000
Jacoby Jon E M DIR Conns CONN S $4,168,704
Barnes Michael CEO,DIR Signet Jewelers SIG S $4,029,186
Angrick William CB,CEO,BO Liquidity Svs LQDT AS $3,657,500
Suydam John J LO,CO Apollo Gl Mgt APO S $2,650,000
West Cent Coop BO Ren Energy REGI AS $1,218,300
Nachman Joseph VP YELP YELP AS $1,106,824
Tabat Dawn COO Generac GNRC AS $1,061,700
Stryker Ronda E DIR Stryker SYK AS $934,776

Source: | Key to Insider Title and Trans Type Codes

Stocks: VER, ZTR