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Top Insider Trades 12/12/13: AFSI, CACI, CLR, AKAM

|Includes: AmTrust Financial Services, Inc. (AFSI), AKAM, CACI, CLR

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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, December 12, 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
Karfunkel Leah BO Amtrust Financial AFSI B $6,589,463
Blue Harbour BO Caci Intl CACI JB*,B $6,309,128
Hamm Harold CEO,CB,BO Continental Res CLR B $4,190,081
Mount Kellett Cap BO GC Deep Rlty Tr GULTU B $1,302,832
Conrades George DIR Akamai Tech AKAM B $899,100
Patterson Scott B BO Cytrx CYTR B $805,256
Frost Phillip Md CEO,CB,BO Opko Health OPK B $722,759
Crocker Douglas II DIR Ventas VTR B $580,101
Marubeni DIR,BO Aircastle AYR B $546,630
Millard Robert B O Gulfmark Offshore GLF B $469,660

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Catterton Noodles BO Noodles NDLS JS* $81,348,408
Page Lawrence CEO,DIR,BO Google GOOG AS $35,933,172
Ebersman David CFO Facebook FB AS $26,169,588
Welsh Carson BO Select Medical SEM S $18,426,432
Godley Richard A DIR Regional Mgt RM JS* $15,075,458
Sams William M DIR Americas Carmart CRMT S $8,202,000
Serenity Inv BO KCG KCG AS $5,551,345
Bhusri Aneel CEO,CB,BO Workday WDAY AS $4,982,515
Humphrey John VP,CFO Roper Industries ROP S $4,556,967
Reddy Kevin M CEO,DIR Noodles NDLS JS* $3,863,821

Source: | Key to Insider Title and Trans Type Codes