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In Insider Trading, Apple VP Sells Shares

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Plus, purchases at Biglari and Nexpoint Credit Strategies Fund, and a sale at Five Below.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Tuesday, September 24, 2013.

Notable Purchases:
  • Sardar Biglari, Chairman and CEO of holding company Biglari Holdings (NYSE:BH), bought 5,165 shares of company stock for $1,368,725. Biglari is engaged in investment management and the franchising and operating of restaurants.
  • James Dondero, Portfolio Manager of non-diversified, closed-end management investment company Nexpoint Credit Strategies Fund (NYSE:NHF), bought 163,928 shares of company stock for $1,244,214.
Notable Sales:
  • The global private equity firm Advent International sold 7,000,000 shares of its holding of retailer Five Below (NASDAQ:FIVE) for $326,550,016.
  • Bruce Sewell, General Counsel and Vice President of Legal and Government Affairs at media and tech company Apple (NASDAQ:AAPL), sold 12,314 shares of company stock for $6,023,698. This is Sewell's third sale of Apple stock since the beginning of September; he now owns only 10 shares of company stock. This was an automatic sale, meaning it was part of Sewell's 10b5-1 program, which sells a certain numbers of shares at set prices. Apple's stock is down 8.09% year-to-date and 30.14% since this time last year.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$5,885,000
2
CB,CEO,BO
JB*
$1,368,725
3
O
JB*
$1,244,214
4
DIR,BO
B
$1,178,232
5
DIR
JB*
$999,999
6
DIR
JB*
$262,980
7
DIR
B
$112,500
8
VP,COO,CFO
B
$55,521
9
O
B
$55,028
10
DIR
JB*
$31,800

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
O
JS*
$326,550,016
2
BO
S
$8,925,898
3
CB,DIR
AS
$7,264,778
4
VP,GC,SEC
AS
$6,023,698
5
CEO,DIR
AS
$5,472,654
6
BO
S
$2,610,178
7
CTO,DIR
AS
$2,506,110
8
VP
S
$1,647,326
9
DIR
AS
$1,574,000
10
BO
S
$1,174,932

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

An important note from Jonathan Moreland, founder of Insider Insights:

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are 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.

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.

Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
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No positions in stocks mentioned.
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