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Top Insider Trades 8/1/12: MDCA, SPLK, GWRE, USAP

|Includes:GWRE, MDC Partners Inc. (MDCA), SPLK, USAP

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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, August 1, 2012 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
1 Murdock David H CB,DIR,BO Dole Food Co DOLE B $7,270,832
2 Lanigan Bernard Jr DIR Ruby Tuesday RT B $815,899
3 Adams Nicholas C FO First Opportunity Fund FOFI B $650,318
4 Pennant Capital Mgt BO Universal Stainless USAP B $590,590
5 Frost Phillip MD et al CEO,CB,BO Opko Health OPK B $424,008
6 Kamerschen Robert DIR MDC Partners MDCA B $190,000
7 Sagard Capital BO Hudson Global HSON B $180,950
8 Workman John L CEO,PR,CFO Omnicare OCR B $155,700
9 Zucaro Aldo C CB,CEO,DIR Old Republic International ORI B $121,896
10 Towerview BO Saga Communications SGA B $81,936

Source: | Key to Insider Title and Trans Type Codes



Insider Sales
1 Hussein Ahmed D DIR,BO Quality Systems QSII S $16,805,818
2 August Capital Management III BO Splunk SPLK JS* $13,924,145
3 Vater Janina BO DDR DDR S $13,272,339
4 JK&B Capital IV BO Splunk SPLK JS* $11,974,362
5 Schmidt Eric E CB,DIR Google GOOG AS $11,082,574
6 Schwab Charles R CB,DIR,BO Schwab Charles SCHW S $10,249,453
7 Connors John G DIR Splunk SPLK JS* $8,259,138
8 Shriram Kavitark Ram DIR Google GOOG AS $7,944,178
9 Ryu Marcus CEO,DIR Guidewire Software GWRE AS $1,893,729
10 Athene BO Apollo Comml RE Fin ARI S $1,591,854

Source: | Key to Insider Title and Trans Type Codes

Disclosure: I am long MDCA.

Additional disclosure: Our Weekly InsiderInsights Newsletter publishes independent resarch on MDCA regularly.