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In Insider Trading, Harbinger Buys More Shares of Spectrum Brands and Chesapeake Energy Sees a Purchase

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Plus, there were purchases at Lionbridge Technologies and Vocus.

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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, May 21, 2013.

Purchases: Archie Dunham, a Director of natural gas and oil exploration and production company Chesapeake Energy (NYSE:CHK), bought 450,000 shares of company stock for $9,401,895. Chesapeake engages in the acquisition, exploration, and development of properties for producing oil and natural gas; it is the second largest US natural gas producer, behind only ExxonMobil (NYSE:XOM). The company also works in marketing midstream transportation and drilling. Archie Dunham served as the President and CEO of the oil company Conoco from 1996 until 2002, when that company merged with Phillips Petroleum to form ConocoPhillips (NYSE:COP), the world's largest pure-play exploration and production company. On May 20, the company announced that Robert Douglas Lawler, a former Senior Vice President at Anadarko Petroleum Corp. (NYSE:APC), is set to take over as CEO of Chesapeake on June 17. This is after Aubrey McClendon, a founder of Chesapeake, stepped down from the chief executive position after a shareholder revolt led by activist investor Carl Icahn. The company's stock is up 13.12% this month, 26.59% year-to-date, and 41.02% since this time last year.

The holding company Harbinger (NYSE:HRG) bought 101,199 shares of diversified consumer products company Spectrum Brands (NYSE:SPB) for $5,972,019, increasing its total stake in the company to 30,670,984 shares, worth over $3.5 billion. This is Harbinger's twelfth purchase of Spectrum stock since the beginning of April. Spectrum's line of brands is diverse, including Rayovac batteries, the George Foreman Grill, Black and Decker Hardware (acquired by Spectrum in December 2012), and Cutter bug spray. Yesterday, the company announced it would be participating in the Citi 2013 Global Consumer Conference in New York on May 30; the company's presentation will be delivered by Executive Vice President and CFO Tony Genito at 8:55 a.m. ET. (The company will have a live webcast on its website.) Spectrum' stock price is up 30.51% YTD, and it is up 70.66% since this time last year.

The New York-based hedge fund Glenhill Advisors bought 125,396 shares of global software solutions company Lionbridge Technologies (NASDAQ:LIOX) for $347,366, increasing its total stake in the company to 8,203,757 shares. Lionbridge provides language, content, and testing solutions for international companies to help them establish presence in foreign countries, especially where a foreign language is spoken. In the last month, the company's stock price has decreased by 11.35%; it has fallen 28.11% YTD and 7.37% since this time last year.

Kevin Burns, a Director of cloud marketing software company Vocus (NASDAQ:VOCS), bought 25,000 shares of company stock for $212,500. Vocus offers its clients marketing and publicity solutions for social media, Internet search, and email. The company's stock price is up 5.43% since the open of trading today, with the only major news from the company being Burns's purchases of stock. The price, currently at $9.14, is down nearly 30% since a disappointing Q1 2013 earnings report on April 23, and it is down 38.71% since this time last year.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
B
$9,401,895
2
BO
B
$5,972,019
3
DIR
JB*
$3,452,216
4
DIR
B
$985,399
5
CB,CEO,DIR
B
$836,908
6
DIR
JB*
$412,519
7
CEO,CB,BO
B
$384,811
8
PR,COO
B
$350,707
9
BO
B
$347,366
10
DIR
B
$212,500

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$1,387,619,840
2
BO
JS*
$286,695,776
3
DIR
JS*
$81,803,912
4
BO
JS*
$42,860,000
5
CB,DIR,BO
S
$18,885,806
6
BO
JS*
$11,074,309
7
O
S
$10,040,279
8
DIR,BO
S
$9,078,912
9
PR,CEO
S
$7,066,434
10
O
S
$3,298,315

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."

Follow me on Twitter: @JoshWolonick and @Minyanville
No positions in stocks mentioned.
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