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In Insider Trading, Carl Icahn Buys $100 Million in CVR Refining


Plus, sales at Scotts Miracle-Gro, Kellogg, JPMorgan Chase, and Dunkin Brands.

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 Friday, Jan. 18, 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, Carl Icahn, the 21st richest man in America and a Director of CVR Refining (NYSE:CVRR), bought $100,000,000 worth of company stock. CVR Refining, of which Icahn holds a majority stake, had an IPO last Thursday worth about $600 million. Also at CVR, Director Vincent Intrieri bought $500,000 worth of company stock. Berkshire Hathaway (NYSE:BRK.B) bought $4,720,319 worth of kidney-treatment company DaVita HealthCare (NYSE:DVA). Berkshire is the majority share holder of the company. Perceptive Advisors, a Beneficiary Owner of biopharmaceutical company Aegerion Pharmaceuticals (NASDAQ:AEGR), bought $1,336,285 worth of company stock.

In sales, investment firm First Reserve Gp, a beneficiary owner of Cobalt International Energy (NYSE:CIE), sold $250,000,000 worth of stock in the development stage oil exploration and production company. John Craig, Chairman and CEO of energy storage company EnerSys (NYSE:ENS), sold $5,041,850 worth of company stock. At Scotts Miracle-Gro (NYSE:SMG), Chairman and CEO James Hagedorn sold $2,212,014 of company stock. The W.K. Kellogg Foundation Trust, the seventh largest philanthropic foundation in the US, sold $1,644,795 worth of Kellogg (NYSE:K) stock. Matthew Zames, the Chief Operating Officer of JPMorgan Chase (NYSE:JPM), sold $1,100,633 of company stock. At Dunkin Brands (NASDAQ:DNKN), the restaurant franchiser that holds Dunkin' Donuts and Baskin-Robbins, Director Jon Luther sold $835,920 worth of company stock.

At, 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.

Source: | Key to Insider Title and Trans Type Codes

Source: | 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."
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