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Top Insider Trades 12/10/13: NUAN, EMKR, CEQP, GFF

|Includes:CEQP, EMKR, GFF, Nuance Communications, Inc. (NUAN)

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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, December 10, 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
Icahn Carl C BO Nuance Comms NUAN B $19,482,112
Marubeni DIR,BO Aircastle AYR B $555,801
Becker Drapkin Mgt BO,DIR EMCore EMKR B $506,570
Wood David M DIR Crestwood Equity CEQP B $267,200
Kramer Ronald J CEO,DIR Griffon GFF B $257,700
Stein A William CFO Digital Realty Trust DLR B $182,400
Nerges Joseph R BO Ikonics IKNX B $66,485
Gilinski Saul DIR Ladenburg Thalmann LTS B $50,370
Wambold Stephen CEO,PR,DIR Ferrellgas Partners FGP B $50,336
Conner Jack W DIR Heritage Commerce HTBK B $49,799
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Bain Capital BO Sensata Tech ST JS* $1,382,884,864
Td Luxembourg Intl BO Td Ameritrade AMTD JS* $155,210,000
Page Lawrence CEO,DIR,BO Google GOOG AS $36,027,688
Lampert Edward S BO Autonation AN S $22,967,590
Jandernoa Michael DIR Perrigo PRGO S $19,974,130
Hagedorn Part BO Scotts Miracle Gro SMG S $11,409,386
Haley John J CEO,CB,DIR Towers Watson TW S $10,556,794
Serenity Inv BO KCG KCG AS $7,005,000
Nashat Amir DIR Receptos RCPT S $4,538,860
Miller Charles C DIR Level 3 Comms LVLT S $1,977,922
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes