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Top Insider Trades 8/14/12: SIRI, ZIP, CAKE, GNC

|Includes:CAKE, CAR, GNC, Sirius XM Holdings Inc. (SIRI)

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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, August 14, 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
Liberty Media BO Sirius Xm Radio SIRI B $223,327,696
Simon Herbert DIR Cheesecake Factory CAKE B $820,500
Empire Capital Mgt BO Sonus Networks SONS B $764,130
Reich Adam Marc CEO Counsel Rb Capital CRBN JB* $526,680
Case Stephen M DIR,BO Zipcar ZIP B $489,898
George Richard L DIR Anadarko Petroleum APC B $413,122
Merritt David C DIR Charter Communications CHTR B $370,783
Frost Phillip MD et al CEO,CB,BO Opko Health OPK B $253,146
Pritchard Edward Gregory VP,PR Hill Rom HRC B $200,550
Whittington Marna C DIR Oaktree Capital Group OAK B $114,000
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes



Insider Sales
Ares Corporate Opp Fund II DIR GNC GNC JS* $270,254,112
Brown & Williamson BO Reynolds American RAI JS* $28,991,440
Page Lawrence CEO,DIR,BO Google GOOG AS $18,575,102
Dvorak Bernard G VP,CFO Liberty Global LBTYA JS* $2,849,028
Krehbiel Frederick A CB,DIR,BO Molex MOLXA AS $2,603,500
Hussein Ahmed D DIR,BO Quality Systems QSII S $2,536,360
Barnard Douglas C VP,GC,SEC Cf Industries CF S $1,799,348
Samueli Henry CB,CTO,DIR Broadcom BRCM AS $1,750,000
Barton Richard N CB,DIR,BO Zillow Z S $1,401,977
Colvin Donald A VP,CFO On Semiconductor ONNN S $1,373,027
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes