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Top Insider Trades 4/22/13: BLK, FB, BAC, GUID

|Includes:BAC, BlackRock, Inc. (BLK), FB, GUID

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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, April 22, 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
Harbinger BO Spectrum Brands SPB B $1,998,421
Srinivasan Mallika DIR AGCO AGCO AB $1,987,683
Montag Thomas K DIR Blackrock BLK B $1,243,213
Luxor Capital BO Hemisphere Media HMTV JB* $1,050,000
RGM Capital BO Guidance Software GUID B $375,101
Okumus Fund Mgt BO Avg Technologies AVG B $304,780
Morgan John L CB,CEO,BO Winmark WINA B $244,770
Yost R David DIR Bank Of America BAC B $230,282
Goldstein Phillip DIR MVC Capital MVC B $62,505
Natl Ent Collectibles BO Hastings Ent HAST B $51,800
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Kellogg WK Fdn BO Kellogg K AS $13,016,031
Sandberg Sheryl COO,DIR Facebook FB AS $4,550,376
Mitchell H Elizabeth PR,CEO Platinum Under PTP S $4,424,720
Hung David PR,CEO,DIR Medivation MDVN AS $3,720,403
Emmett Dan A CB,DIR Douglas Emmett DEI AS $3,249,592
Jacobson Mitchell DIR,BO MSC Industrial MSM S $2,906,850
New Leaf Ventures II BO Mei Pharma MEIP S $2,183,039
Berger Harvey J CB,CEO,DIR Ariad Pharm ARIA AS $1,897,791
Cox L Kevin HR American Express AXP S $1,132,710
McAfee Eric A CB,CEO,BO Aemetis AMTX JS* $999,000
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Stocks: BLK, FB, BAC, GUID