In Insider Trading, Trident II Sheds Stake in Axis Capital; ServiceSource CEO Buys Company Shares

By Jonathan Moreland  FEB 13, 2013 10:15 AM

Plus, purchases at ZAIS Financial and Fortress International; sales at Nexstar, Silgan Holdings, and Google.

 


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, February 12, 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 insider purchases, Christian Zugel, Chairman of real estate investment trust ZAIS Financial Corp (NYSE:ZFC), bought $400,000 worth of company stock, while CEO and President Michael Szymanski bought $199,622 and the Director Denise Crowley bought $199,619. The trust is part of global asset management firm ZAIS Group, LLC, of which Zugel is Founder and CIO. At Fortress International Group (PINK:FIGI), which  consults, designs, builds, and maintains mission critical facilities such as laboratories, bunkers, and data centers, Director Peter Woodward bought $319,204 worth of company stock. Michael Smerklo, Chairman and CEO of service revenue management company ServiceSource International (NASDAQ:SREV), bought $296,722 worth of company shares.

In insider sales, the Stone Point Capital fund Trident II sold $107,396,752 worth of Axis Capital (NYSE:AXS), shedding its entire stake in the Bermuda-based global insurance and reinsurance company. Royce Yudroff, a Director of television broadcasting and digital media company Nexstar (NASDAQ:NXST), sold $41,250,000 worth of company stock. At Silgan Holdings (NASDAQ:SLGN), a manufacturer of metal and plastic consumer goods packaging products, Founder and Co-Chairman Greg Horrigan sold $21,752,491 worth of company stock. Larry Page, Co-Founder and CEO of Google (NASDAQ:GOOG), sold $16,223,992 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
CB,DIR
B
$400,400
2
DIR
JB*
$319,204
3
CEO,CB,DIR
B
$296,722
4
CB,CEO,FO
JB*,B
$236,224
5
BO
B
$228,000
6
CEO,PR,DIR
B
$199,622
7
DIR
B
$199,619
8
DIR,BO
JB*
$125,000
9
BO
B
$119,771
10
DIR
B
$119,016

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
DIR
JS*
$107,396,752
2
DIR,BO
JS*
$41,250,000
3
DIR,BO
S,JS*
$21,752,491
4
BO
S
$18,569,602
5
CEO,DIR,BO
AS
$16,223,992
6
BO
S
$9,270,788
7
DIR
S
$6,355,718
8
CB,DIR
S
$1,952,010
9
BO
S
$1,894,826
10
VP
AS
$1,142,884

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.