Top Insider Trades: Perrigo and VistaPrint See Buys

By Jonathan Moreland  DEC 10, 2012 10:05 AM

While insiders sold PVH, Nexstar, and Facebook.

 


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 your fellow professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Friday, December 7, 2012 as ranked by dollar value.

Please note, however, that these are factual lists, 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.

Michael J. Jandernoa, a director of pharmaceutical manufacturer Perrigo (NASDAQ:PRGO) bought $31 million in stock, according to SEC documents. Jandernoa, former chairman of the board and CEO of PRGO, has been on the board of the company since 1981. He is also the founder of Jandernoa Investment Group LLC. Thomas W. Smith bought $3 million in stock of the online marketing products company VistaPrint (NASDAQ:VPRT). Smith is the managing partner of Prescott Investors and has made several multi-million-dollar investments in VPRT since August.

On the sell side, David A. Landau cashed in $233.6 million worth of PVH Corp. (NYSE:PVH) stock, formerly known as Philips-Van Heusen, the American apparel firm which bought Warnaco Group in October for $2.9 billion. Landau is a director of PVH and co-founder of LNK Partners. Royce Yudroff sold $70.7 million worth of Nexstar Broadcasting Group (NASDAQ:NXST). Facebook (NADSAQ:FB) director and COO, Sheryl Sandberg, sold $26 million of the social media company's stock.

At InsiderInsights.com, 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.


Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes


Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Editor's note: Jonathan Moreland is the founder of Insider Insights and author of "Profit From Legal Insider Trading."
No positions in stocks mentioned.