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Top Insider Trades 1/16/14: AOD, GES, FNBG, ARCP

|Includes:Alpine Total Dynamic Dividend Fund (AOD), FNBG, GES, VER

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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, January 16, 2014 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
Lieber Stephen A VP Alpine TD Div Fd AOD B $506,044
Black Jim D PR Fnb Bancorp Ca FNBG JB* $318,072
Block Brian S TR,CFO Amer Rlty Cap ARCP JB* $82,360
Schler Richard E CEO,DIR Energizer Resources ENZR JB* $72,000
Scherba Craig S PR,COO,DIR Energizer Resources ENZR JB* $72,000
Liabotis Peter D VP,CFO Energizer Resources ENZR JB* $72,000
McBride David F TT First REIT of NJ FREVS JB*,B $70,487
Yarie Quentin DIR Energizer Resources ENZR JB* $60,000
Lazarus Inv BO Barfresh Food BRFH JB* $49,594
Prescott Capital BO China Marine CMFO B $40,980

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Marciano Maurice DIR,BO Guess GES S $29,477,992
Norwest Venture BO Retailmenot SALE S,JS* $26,000,000
George Michael A DIR Liberty Interactive LINTA AS $3,725,179
Kinderhook BO Patient Safety PSTX S $3,393,135
Millennium Partners BO Liberator Medical LBMH S $3,367,309
Wilhelm Matthew BO FXCM FXCM S $2,876,297
Noll Richard A CB,CEO Hanesbrands HBI AS $2,066,909
Rose Stuart A CEO,DIR,BO Rex American REX S $2,009,000
McConnell Hugh VP,CFO Dxp Enterprises DXPE AS $1,986,251
Demski David M PR,COO,DIR Globus Medical GMED AS $1,985,635

Source: | Key to Insider Title and Trans Type Codes