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Top Insider Trades 1/16/13: TIF, HRG, CERE, ROST

|Includes: CERE, HRG, ROST, Tiffany & Co. (TIF)

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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, January 16, 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
Ambergate Trust BO Ceres CERE B $615,115
Lehmann Claus R BO Valcom VLCO JB* $230,275
Frost Phillip MD CEO,CB,BO Opko Health OPK B $199,642
Collins Morton DIR Inovio Pharm INO B $66,940
Mezey Joseph CFO,DIR,BO Graystone GYST JB* $64,500
Simmons Harold C CB,DIR,BO Valhi VHI B $59,200
Lytton Michael VP,GC Patheon PNHNF JB* $49,784
Wycoff W Kirk DIR,BO Guaranty Bancorp GBNK AB $20,000
Ross Robert Sidney BO Colony Bankcorp CBAN B $16,493
Maggiore Chris D BO Health Enh Prod HEPI B $13,855

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
May Peter W DIR Tiffany TIF S $60,766,512
Page Lawrence CEO,DIR,BO Google GOOG AS $29,961,397
Harbinger Cap Fd BO Harbinger HRG JS* $22,500,000
Tennenbaum Cap BO Intl Wire ITWG JS* $17,250,000
Balmuth Michael VCB,CEO,DIR Ross Stores ROST AS $12,528,206
Hoffman Reid DIR,BO Linkedin LNKD AS $9,802,434
Cbl & Assoc BO Cbl Properties CBL S $4,725,385
Weiner Jeff CEO,DIR Linkedin LNKD AS $4,352,139
Doerr L John DIR Google GOOG AS $4,167,148
Hagedorn James BO,CB,CEO Scotts Mir Gro SMG S,AS $2,791,625

Source: | Key to Insider Title and Trans Type Codes