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Top Insider Trades 9/18/13: SRPT, ARDC, WBMD, AEO

|Includes:AEO, ARDC, Sarepta Therapeutics, Inc. (SRPT), WBMD

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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 Wednesday, September 18, 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
Marubeni DIR,BO Aircastle AYR B $673,289
Behrens M Kathleen DIR Sarepta SRPT B $240,778
Kim John Y DIR Mainstay DT Muni Fd MMD B $158,750
Braithwaite Michael O Clearone CLRO JB* $155,404
Ares Capital Mgt II O Ares Dyn Cr Alloc Fd ARDC B $112,310
De Perio Joseph A DIR Everyware Global EVRY B $103,590
Spiegel Noel Joseph DIR American Eagle AEO B $74,445
Bayer Michael J DIR Siga Technologies SIGA B $53,736
Miller John V O Nuveen Muni Hi Inc NMZ B $45,720
McClaugherty Joe L DIR Magnum Hunter MHR B $36,960

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Interwest Mgt Part BO Marketo MKTO JS* $70,818,664
Icahn Carl C BO Webmd Health WBMD JS* $39,885,128
Lampert Edward S BO Autonation AN S $39,141,629
Storm Venture BO Marketo MKTO JS* $36,974,036
Hoffman Reid DIR,BO Linkedin LNKD AS $20,562,152
Kensico Capital Mgt BO Webmd Health WBMD S $19,458,234
Angelo John M DIR Sothebys BID S $13,351,800
Weiner Jeff CEO,DIR Linkedin LNKD AS $9,129,322
Butters David J DIR Gulfmark Offshore GLF S $4,676,011
Wright Donald P VP Safeway SWY AS $3,162,000

Source: | Key to Insider Title and Trans Type Codes