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Top Insider Trades 12/24/13: SIGM, GBDC, ADC, ACHN

|Includes: ACHN, ADC, GBDC, Sigma Designs, Inc. (SIGM)

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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 Tuesday, December 24, 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
Tran Thinh Q CEO,DIR Sigma Designs SIGM JB* $2,500,003
Walker John B CB,DIR Ev Energy Part EVEP B $190,704
Golub Lawrence E BO Golub Capital Bdc GBDC JB* $92,050
Golub David CEO,DIR,BO Golub Capital Bdc GBDC JB* $91,850
Rubenfaer William DIR Agree Realty ADC B $56,312
Smith Daniel H Jr CEO,TT,CB BS Gso Str Cr Fd BGB B $53,150
Frost Phillip Md CEO,CB,BO Opko Health OPK B $49,492
Marubeni DIR,BO Aircastle AYR B $39,861
Prescott Capital BO China Marine CMFO B $34,010
Gould Investors BO Brt Realty Trust BRT B $27,077

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Singer Eric DIR Sigma Designs SIGM S $1,888,755
Daniel V Tierney Tr BO KCG KCG AS $1,778,226
Lefebvre Marvin G VP Clean Harbors CLH JS* $1,433,388
Putnam James S DIR Lpl Financial LPLA AS $1,380,000
Marxe & Greenhse BO Adept Tech ADEP S $1,096,989
Moglia Joseph H DIR Td Ameritrade AMTD S $1,090,963
Qvt Assoc Gp BO Achillion Pharm ACHN S $937,653
Ba Capital DIR Cumulus Media CMLS S $936,098
Ait Holding Co BO Ultra Clean UCTT S $877,309
McCarten William DIR Diamondrock Hospitality DRH S $677,352

Source: | Key to Insider Title and Trans Type Codes