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Top Insider Trades 5/7/13: HLF, JPM, AWAY, SPX

|Includes:AWAY, Herbalife Ltd. (HLF), JPM

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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, May 7, 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
Relational Investors BO Spx SPW B $78,876,480
Icahn Carl C BO Herbalife HLF B $24,973,810
Crown James S DIR JPMorgan Chase JPM B $14,255,521
Loewenbaum GW DIR Luminex LMNX B $1,114,865
Lapeyre James M Jr DIR Ion Geophysical IO B $651,024
Hughes Jeffrey DIR Cys Inv CYS B $599,891
RGM Capital BO Guidance Software GUID B $468,941
Palatnik Kevin S CFO Audience ADNC B $349,345
Sieczkarek Mark M DIR Solta Medical SLTM B $261,000
Frost Phillip Md CEO,CB,BO Opko Health OPK B $159,250
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Ing Groep Nv DIR,BO Ing U S VOYA JS* $671,249,984
Sullivan Thomas D CB,F,DIR Lumber Liquidators LL S $16,455,671
Av Partners VIII BO Homeaway AWAY S $12,046,104
Kingston John Iii VCB,GC Affiliated Managers AMG S $7,079,860
Farrington Deborah DIR Netsuite N AS $6,619,727
Shear Bruce A VCB,DIR Acadia Healthcare ACHC S,JS* $5,610,119
Jacobson Mitchell DIR,BO MSC Industrial MSM S $4,257,171
Duranton Philippe VP,HR Nyse Euronext NYX S $3,323,081
Cappuccio Paul T VP,GC Time Warner TWX S $3,031,500
Chen Linda PR,SO Wynn Resorts WYNN S $2,790,000
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Stocks: HLF, JPM, AWAY