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In Insider Trading, LA's Wealthiest Man Buys Shares of JAKKS Pacific, and Yelp Sees a Sale

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Plus, Harbinger Group buys shares of Spectrum Brands; the CEO of Medivation sells shares.

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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, April 9, 2013.

Purchases: Patrick Soon-Shiong bought 858,580 shares of toys and consumer products company JAKKS Pacific (NASDAQ:JAKK) for $8,949,540. Soon-Shiong, surgeon, medical researcher, philanthropist, and university professor (UCLA), is ranked by Forbes as the wealthiest American in the health care industry and the wealthiest resident of Los Angeles. In July 2012, news began circulating about a partnership between Soon-Shiong's tech holding company NantWorks and JAKKS Pacific. In October 2012, the companies announced the formation of DreamPlay Toys, which develops and sells toys that employ NantWorks' iDream image recognition technology. By October 12, Soon-Shiong's California Capital Z LLC owned 1.97 million shares of JAKKS Pacific.

The diversified holding company Harbinger Group Inc. (NYSE:HRG) bought 40,000 shares of consumer products company Spectrum Brands (NYSE:SPB) for $2,266,250. Spectrum was established in 2005 as a successor to Rayovac Corp. On Monday, the company announced the completed acquisition of Tong Lung Metal Industry, a Taiwanese manufacturer of commercial and residential lock sets. The acquisition was part of Spectrum's December 17, 2012 purchase of the Hardware and Home Improvement Group of Stanley Black & Decker (NYSE:SWK).

Sales: Max Levchin, a Director of online directory and social network company Yelp (NYSE:YELP), sold 118,394 shares of company stock for $2,970,223. The Ukranian-born American computer scientist Levchin was, along with Elon Musk and Peter Thiel, a co-founder of PayPal (NASDAQ:EBAY). Yelp's stock price is down 4.6% from this time last year, though the stock had an 8.58% rally last Friday. The company is expecting revenue growth of 55% in 2013.

David Hung, the President and CEO of biopharmaceutical company Medivation (NASDAQ:MDVN), sold 50,000 shares of company stock for $2,508,500. Medivation specializes in the rapid development of small molecule drugs for the treatment of serious diseases. For example, the company is currently partnered with Astellas Phama (TYO:4503) to develop MDV3100, a drug for the treatment of multiple stages of advanced prostate cancer.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B,JB*
$8,949,540
2
BO
B
$2,266,250
3
BO
B
$867,076
4
BO
B
$774,263
5
DIR
JB*
$435,000
6
CB,CEO,BO
B
$159,147
7
DIR
B
$92,446
8
COO,CFO
B
$75,500
9
CB,PR,CEO
B
$50,001
10
VP
B
$49,900

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
DIR,BO
AS
$2,970,223
2
PR,CEO,DIR
AS
$2,508,500
3
CEO
S
$1,575,209
4
BO
S
$1,434,504
5
CEO,DIR
AS
$1,114,786
6
VP
AS
$674,250
7
PR,CEO,DIR
AS
$630,750
8
DIR
S
$591,521
9
CB,DIR,BO
JS*
$568,772
10
CFO
S
$461,991

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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