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Top Insider Trades 10/15/13: ACHN, VTNC, COSI, AFB

|Includes:Achillion Pharmaceuticals, Inc. (ACHN), AFB, COSI, TFIFF

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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, October 15, 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
Ra Capital Mgt BO Achillion Pharm ACHN B $6,279,017
Clarke BO Vitran Corp VTNC B $2,578,981
Campbell Kent CEO,DIR,BO LILM LILM JB* $1,600,000
Marubeni DIR,BO Aircastle AYR B $1,062,810
Miller Lloyd I Iii BO COSI COSI B $537,505
Peebles Douglas J VP AB Nat Muni Inc Fd AFB B $516,602
Ares Capital Mgt II O Ares DC Alloc Fd ARDC B $502,304
Eberwein Jeffrey E DIR Crossroads Sys CRDS JB* $454,979
Postal Jeffrey DIR Capstone Cos CAPC JB* $211,200
Brooks Douglas H DIR Autozone AZO B $150,001

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Aos Partners BO Envestnet ENV JS* $122,908,416
Page Lawrence CEO,DIR,BO Google GOOG AS $36,524,130
Johnson James DIR Envestnet ENV JS* $32,631,504
Blum Capital BO ITT Educ Svs ESI S $7,495,194
Brown Williamson BO Reynolds Amer RAI JS* $6,305,352
Kierlin Robert A DIR Fastenal FAST S $4,777,210
Doerr L John DIR Google GOOG AS $4,166,523
Cleary James PR,CEO,DIR MWI Veterinary MWIV AS $3,907,385
Cohen Eric A COO Power Solutions PSIX AS $2,883,594
Marxe & Greenhse BO Adept Tech ADEP S $2,770,893

Source: | Key to Insider Title and Trans Type Codes