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In Insider Trading, Bill Ackman's Hedge Fund Files Its Massive JC Penney Sale

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Plus, purchases at Sprint, Accelerate Diagnostics, and Accelrys.

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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 Wednesday, August 28, 2013.

Notable Purchases:
  • The Japanese telecommunications and Internet company Softbank (OTCMKTS:SFTBF) bought 5,527,274 shares of American telecom company Sprint (NYSE:S) for $37,692,660. In July, Softbank acquired a majority stake in Sprint.
  • Larry Feinberg, a beneficial owner of Accelerate Diagnostics (NASDAQ:AXDX), bought 158,445 shares of company stock for $1,552,433. Accelerate develops tools for the rapid identification and antibiotic susceptibility testing of infectious pathogens.
  • Investment firm RGM Capital bought 59,300 shares of scientific informatics company Accelrys (NASDAQ:ACCL) for $544,949.
Notable Sale:
  • Bill Ackman's activist hedge fund Pershing Square Capital Management sold its 39,075,772 stake in department store retail company JC Penney (NYSE:JCP) for $504,077,440. The fund lost more than $480 on its initial investment, as it originally bought the stake for around $25 per share; it was sold at $12.60 per share.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
S
B
$37,692,660
2
BO
JB*
$3,000,000
3
BO
B
$1,552,433
4
DIR,BO
B
$994,092
5
BO
B
$544,949
6
DIR
B
$370,183
7
BO
JB*,B
$364,003
8
DIR
B
$289,171
9
DIR
B
$256,398
10
DIR
B
$224,302

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
BO
JS*
$504,077,440
2
CB,DIR
AS
$72,652,216
3
DIR
S
$23,672,502
4
VP
S
$16,983,388
5
DIR
S
$4,467,570
6
PR,CEO
S
$3,153,850
7
CB,CEO,DIR
S
$2,984,977
8
DIR
S
$2,799,904
9
BO
S
$2,625,738
10
CFO
S
$2,361,596

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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