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Insider Trades: Daniel Loeb Sells $1.2 Billion of Stake in Yahoo and Philip Morris International Sees a Purchase

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Plus, there were purchases at NexPoint Credit Strategies Fund and NetSol Technologies.

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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, July 23, 2013.

Notable Purchases:
  • James Dondero, the portfolio manager of non-diversified, close-end management investment company NexPoint Credit Strategies Fund (NYSE:NHF), bought 141,262 shares of company stock for $1,103,256.
  • Sergio Marchionne, a Director of international cigarette company Philip Morris International (NYSE:PM), bought 1,000 shares of company stock for $89,070.
  • Najeeb Ghauri, the CEO of information technology and enterprise application solutions company NetSol Technologies (NASDAQ:NTWK), bought 7,500 shares of company stock for $76,875.
Notable Sales:
  • The Founder and Chief Executive of the $12.9 billion hedge fund Third Point LLC, Daniel Loeb, who is also a Director of Yahoo (NASDAQ:YHOO), sold 41,400,000 shares of company stock for $1,205,420,032. Moreover, he is stepping down as Director, closing one of the most successful investments of his career.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$1,199,996
2
O
B
$1,103,256
3
BO
B
$190,984
4
FO,DIR,BO
JB*
$181,250
5
VP
B
$130,500
6
DIR
B
$123,340
7
CEO,PR,DIR
JB*
$100,796
8
DIR
B
$89,070
9
CEO,DIR
B
$76,875
10
DIR
B
$57,624

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
S
$1,205,420,032
2
DIR
S
$8,673,301
3
VP
S
$5,274,031
4
VP,CFO
S
$3,716,301
5
CEO,DIR,BO
AS
$2,701,168
6
DIR
AS
$2,663,032
7
BO
S
$1,984,879
8
BO
S
$1,909,036
9
VP
S
$1,314,500
10
DIR
AS
$1,189,699

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."
No positions in stocks mentioned.
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