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Top Insider Trades 9/13/12: WCRX, HK, LAYN, GRMN

|Includes: GRMN, HK, LAYN, Warner Chilcott Limited (WCRX)

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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, September 13, 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
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Powell Donald E DIR Stone Energy SGY JB* $5,325,000
Obus Nelson DIR Layne Christensen LAYN JB* $902,500
Christmas James W DIR Halcon Resources HK B $724,000
Fix Warren D DIR Healthcare Tr of Am HTA B $214,302
Fred G Perkins III Trust BO Artisanal Brands AHFP JB* $200,000
Kohlhagen Steven W DIR Abtech ABHD JB* $184,800
Red Oak Partners DIR,BO Asure Software ASUR JB* $140,980
Frost Phillip MD et al CEO,CB,BO Opko Health OPK B $131,138
Clinton BO Overland Storage OVRL B $89,223
Simon William E Jr DIR Douglas Emmett DEI B $74,245

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Bain Capital Investors BO Warner Chilcott WCRX JS* $168,864,880
A N P Trust 1m6 O Hyatt Hotels H JS* $20,573,352
Kao Min H CEO Garmin GRMN AS $19,285,160
Ramsey Craig DIR Salesforce Com CRM S $10,701,520
Schuler Jack W DIR Stericycle SRCL S $9,315,000
P G Nicholas Trust M O Hyatt Hotels H JS* $8,627,795
Peak Kenneth R CB,CEO,BO Contango Oil & Gas MCF S $3,952,282
Abrams Capital Mgt BO Arbitron ARB S $3,889,987
Stull Steven T DIR Fleetcor Technologies FLT S $3,692,277
Pinkerton John H CB Range Resources RRC S $3,497,415

Source: | Key to Insider Title and Trans Type Codes