Insider Sales at Adobe and Travelzoo, While Cincinnati Bell Buys Stock in CyrusOne

By Jonathan Moreland  JAN 29, 2013 12:05 PM

Plus, Harold Simmons buys Kronos Worldwide shares.

 


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 Tuesday, January 29, 2013 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.

In purchases, Cincinnati Bell (NYSE:CBB) -- which is the dominant telephone company in Cincinnati, Ohio -- bought $7,111,301 worth of CyrusOne (NASDAQ:CONE), of which it is a beneficiary owner. Additionally, Director John Cassidy bought $950,000 worth of stock, Director David Ferdman bought $798,000 worth of stock, and President and CEO Gary Wojtaszek bought $570,000 worth of stock. The company, a real estate investment trust that rents out global data centers, had an IPO on January 18. Harold Simmons, Chairman of Kronos Worldwide (NYSE:KRO), bought $1,183,811 worth of company stock. Steven Tanger. President and CEO of outlet mall real estate company Tanger Factory Outlet Centers (NYSE:SKT), bought $657,333 worth of company stock.

In sales, Google (NASDAQ:GOOG) Chairman Eric Schmidt sold $47,541,032 worth of company stock. At software company Adobe Systems (NASDAQ:ADBE), President and CEO Shantanu Narayen sold $4,968,925 worth of shares. At the online deal publisher and media company Travelzoo (NASDAQ:TZOO), beneficiary owner Azzurro Capital sold $3,125,135 worth of company stock. Roger Linquist, CEO of MetroPCS Communications (NYSE:PCS), sold $2,272,766 worth of company 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.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$7,111,301
2
CB,DIR,BO
B
$1,983,796
3
O
JB*
$1,183,811
4
DIR
JB*
$950,000
5
DIR
JB*
$798,000
6
PR,CEO,DIR
B
$657,333
7
VP
B
$601,500
8
PR,CEO,DIR
JB*
$570,000
9
CEO,DIR,BO
JB*
$500,000
10
PR,DIR
B
$200,500

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

 

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CB,DIR
AS
$47,541,032
2
PR,CEO,DIR
S
$4,968,925
3
BO
S,JS*
$3,125,135
4
BO
S
$2,593,207
5
CEO,DIR
AS
$2,272,766
6
BO
S
$2,239,643
7
CEO,DIR
S
$2,160,000
8
VP
S
$1,587,567
9
VP
AS
$1,350,810
10
BO
S
$1,344,858

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.