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Top Insider Trades 9/26/13: NSH, KAR, XLRN, IMH

|Includes:IMH, KAR, NuStar GP Holdings, LLC (NSH), XLRN

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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, September 26, 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
Celgene BO Acceleron Pharma XLRN JB* $10,000,005
Gross William H O Pimco DC Inc Fd PCI B $2,236,750
Greehey William DIR,BO Nustar Gp NSH B $1,027,404
Marubeni DIR,BO Aircastle AYR B $524,460
Marino Gary O CEO,DIR,BO Banyan Rail Svs BARA JB* $390,000
Frost Phillip Md CEO,CB,BO Opko Health OPK B $131,015
Pickup Richard H BO Impac Mortgage IMH B $96,968
Ares Capital Mgt II O Ares DC Alloc Fd ARDC B $84,858
Brazelton Frederick W DIR Vaalco Energy EGY B $54,111
Maxwell W Keith DIR,BO Marlin Midstream FISH B $44,996

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Kar II BO Kar Auction KAR JS* $367,424,992
Metalmark Breitburn BO Pac Coast Oil Tr ROYT JS* $75,427,144
Schmidt Eric E CB,DIR Google GOOG AS $65,949,994
Greenhill Capital II BO Pac Coast Oil Tr ROYT JS* $56,427,896
Ostanik Matt PR Textura TXTR JS* $14,516,000
Eichhorn William VP Textura TXTR JS* $7,258,000
Manoogian Richard DIR Masco MAS S $6,513,450
Herlin Robert S CEO,DIR,BO Evolution Petrol EPM S $2,541,551
Rose Stuart A CEO,DIR,BO Rex American REX S $2,521,540
Dolby Dagmar BO Dolby Laboratories DLB AS $2,450,000

Source: | Key to Insider Title and Trans Type Codes