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In Insider Trading, Phillip Frost Buys Shares of Opko After Two-Month Hiatus

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Plus, there were purchases at Aircastle and PBF Energy and a sale at Tower Group International.

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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 Friday, September 20, 2013.

Notable Purchases:
  • The Japanese trading company Marubeni (OTCMKTS:MARUF) bought 30,000 shares of global, high-utility, commercial jet aircraft company Aircastle (NYSE:AYR) for $518,070.
  • Dennis Houston, a director at independent petroleum refiner and supplier PBF Energy (NYSE:PBF), bought 10,000 shares of company stock for $226,550.
  • Phillip Frost, the Chairman and CEO of diagnostics and pharmaceuticals company Opko Health (NYSE:OPK), bought 20,000 shares of company stock for $165,966. The purchase is Frost's first since July; he is known for having bought Opko shares on an almost daily basis since he took the reins at the company in 2007.
Notable Sale:
  • Michael Lee, the Chairman, President, and CEO of commercial, personal, and specialty insurance and reinsurance company Tower Group International (NASDAQ:TWGP), sold 1,233,460 shares of company stock for $12,612,020.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR,BO
B
$518,070
2
DIR,BO
JB*
$375,000
3
CEO,DIR,BO
JB*
$350,000
4
DIR
B
$226,550
5
CEO,CB,BO
B
$165,966
6
O
B
$131,101
7
DIR
B
$129,996
8
DIR
B
$87,409
9
O
B
$65,970
10
BO
B
$40,157

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$300,598,720
2
CEO,DIR,BO
AS
$14,115,280
3
CB,PR,CEO
S
$12,612,020
4
CB,PR,CEO
AS
$10,805,760
5
DIR
JS*,S
$10,087,694
6
BO
S
$7,847,930
7
PR
S
$6,980,250
8
CB,DIR,BO
S
$5,752,805
9
BO
S
$4,451,032
10
PR,DIR
S
$4,069,000

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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