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Top Insider Trades 5/29/13: LTS, MCK, AOL, CMO

|Includes: AOL, CMO, Ladenburg Thalmann Financial Services Inc. (LTS), MCK

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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, May 29, 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
Frost Phillip Md DIR,BO Ladenburg Thalmann LTS JB* $20,000,000
Maxwell LTD BO Portola Pharm PTLA JB* $10,150,000
Baker Felix DIR,BO Genomic Health GHDX B $4,473,548
Harbinger BO Spectrum Brands SPB B $3,424,358
Weisenburger Randall DIR Carnival CCL B $1,318,096
Reynolds Fredric G DIR AOL AOL B $959,308
Adams Adrian DIR Acelrx Pharm ACRX B $614,000
Gilinski Saul DIR Ladenburg Thalmann LTS JB* $500,000
Mark Reuben DIR Cabelas CAB B $334,949
Biegler Jack DIR Capstead Mortgage CMO B $240,560

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Lehman Plan Trust BO Avalonbay Comms AVB JS* $1,075,592,960
Bain Capital BO Sensata Tech ST JS* $847,755,648
Jll Partners Fund Iv BO Pgt PGTI JS* $130,987,496
Enterprise Networks BO Incontact SAAS JS* $43,495,444
Hammergren John CB,PR,CEO McKesson MCK AS $26,554,638
Julian Paul C VP,PR McKesson MCK AS $13,471,798
Brown & Williamson BO Reynolds American RAI S $12,644,051
Zelnak Stephen DIR Martin Marietta MLM S $1,642,253
Ramirez Jaime A VP,PR Stanley B&D SWK S $1,473,833
Pangia Robert W DIR Biogen Idec BIIB AS $1,399,657

Source: | Key to Insider Title and Trans Type Codes