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Top Insider Trades 5/2/13: RFP, AVG, UFI, MSFG

|Includes: AVG, MSFG, Resolute Forest Products, Inc. (RFP), UFI

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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, May 2, 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
Fairfax Financial BO Resolute Forest RFP JB* $48,169,276
Okumus Fund Mgt BO Avg Tech AVG B $467,166
Frost Phillip Md CEO,CB,BO Opko Health OPK B $465,953
Hewitt Douglas C CEO,DIR,BO Richfield Oil ROIL JB* $320,000
Obrien Thomas M DIR Mainsource Finl MSFG B $202,150
Armfield William J Iv DIR Unifi UFI B $192,771
Langone Kenneth G DIR Unifi UFI B $192,642
Kellner Lawrence W DIR Boeing BA B $137,390
Cederstrom Michael GC Richfield Oil ROIL JB* $135,000
Bogus Donald W DIR Olin OLN B $122,900

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Plank Kevin A PR,CEO,CB,BO Under Armour UA AS $16,573,055
Taylor Wayne K CB,CEO,DIR Texas Roadhouse TXRH S $9,945,900
Marxe & Greenhse BO Alco Stores ALCS S $3,963,540
Farrell Peter C CB,DIR Resmed RMD S $3,735,351
De Vries Glen M PR,DIR Medidata MDSO AS $3,684,885
Ebling Keith J VP,GC Express Scripts ESRX AS $3,544,537
Nelms David W CB,CEO,DIR Discover Finl DFS S $3,290,250
Smith Brian K DIR Proto Labs PRLB S $3,231,911
Levis William PR,COO Public Svc Ent PEG S $2,210,830
Hill Shephard W VP,PR Boeing BA S $2,145,351

Source: | Key to Insider Title and Trans Type Codes