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Top Insider Trades 4/23/13: JPM, NHF, AGCO, HBNC

|Includes:AGCO, HBNC, JPMorgan Chase & Co. (JPM), NHF

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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 23, 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
Crown James S DIR JPMorgan Chase JPM B $20,525,126
Srinivasan Mallika DIR AGCO AGCO AB $1,705,541
Dondero James D O Nexpoint Cr St Fd NHF JB* $1,067,201
Pairitz Peter L DIR Horizon Bancorp In HBNC JB* $77,640
McAdoo Zachary BO Io World Media IWDM JB* $60,000
Hansen Bruce D CEO,DIR General Moly GMO B $55,905
Wilkins James R Jr DIR Eagle Financial EFSI B $45,507
Arehart Jean DIR Bank Of The Ozarks OZRK B $40,398
Mancuso Robert J VP Norwood Financial NWFL B $30,190
Vinson Randall G DIR Eagle Financial EFSI B $23,000

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Kelly John P DIR Crown Castle Intl CCI AS $3,750,000
Linquist Roger D CEO,DIR MetroPCS Comms PCS AS $1,118,238
Stryker Ronda E DIR Stryker SYK AS $901,739
Crooke Stanley T CB,CEO,PR Isis Pharm ISIS AS $872,801
Braunscheidel SJ VP M & T Bank MTB S $841,507
Cutler Stephen M GC JPMorgan Chase JPM AS $720,000
Wilson Harry J DIR Yahoo YHOO S $705,000
Murthy Phaneesh PR,CEO,DIR Igate IGTE S $684,000
VA Retire Sys BO Blackrock Kelso BKCC S $578,323
Erickson Peter C VP General Mills GIS S $500,000

Source: | Key to Insider Title and Trans Type Codes