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Top Insider Trades 8/17/12: SIRI, STRI, KMI, DNKN, EPAX

|Includes: DNKN, EPAX, KMI, Sirius XM Holdings Inc. (SIRI), STRI

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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 Friday, August 17, 2012 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
Liberty Media BO Sirius Xm Radio SIRI B $10,979,936
Red Mountain Capital BO STR STRI B $1,147,413
Dondero James D O Nexpoint Credit Strat Fd HCF JB* $999,998
Arougheti Michael J DIR Ares Commercial RE ACRE B $769,439
Johnson Steven G PR,DIR,BO Careview Comms CRVW B $265,991
Frost Phillip MD et al CEO,CB,BO Opko Health OPK B $253,759
Brandon Joseph Patrick VP Alleghany Y B $201,053
Kamin Peter H DIR Ambassadors EPAX B $177,587
Linn W Michael DIR Altisource Portfolio ASPS B $167,105
Forbes Charles C VP,COO,DIR Forbes Energy Services FES B $164,506

Source: | Key to Insider Title and Trans Type Codes



Insider Sales
Goldman Sachs DIR,BO Kinder Morgan KMI JS* $1,129,894,656
Bain Capital Investors BO Dunkin Brands DNKN JS* $367,278,400
Shriram Kavitark Ram DIR Google GOOG AS $98,010,000
Heartland Industrial Assoc BO Trimas TRS JS* $31,125,000
Stevens Jeff A PR,CEO,DIR Western Refining WNR S $10,310,217
Kellogg W K Foundation BO Kellogg K AS $7,905,016
Golub Lawrence E CB,DIR,BO Golub Capital Bdc GBDC JS* $7,059,360
McAdam John PR,CEO,DIR F5 Networks FFIV AS $4,983,516
Pedersen Robert G II CB,CEO,BO ZAGG ZAGG S $4,234,021
Waters Gregory L VP Skyworks Solutions SWKS S $3,597,159

Source: | Key to Insider Title and Trans Type Codes