business news
In Insider Trading, Phillip Frost Increases Stake in Opko Health Inc. and Larry Page Sells Shares of Google Inc
By
Jonathan Moreland
Jun 18, 2013 10:03 am
Plus, there were purchases at Halcon Resources Corp, MVC Capital, Inc., and Linn Energy LLC.
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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 Monday, June 17, 2013.
Notable Purchases:
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."
Notable Purchases:
- The Canada Pension Plan Investment Board bought 1,978,125 shares of onshore oil and natural gas company Halcon Resources Corp (NYSE:HK) for $10,780,979.
- Phillip Goldstein, a Director of non-diversified, close-ended management company MVC Capital, Inc. (NYSE:MVC), bought 37,671 shares of company stock for $476,538.
- Phillip Frost, Chairman and CEO of multi-national pharmaceutical and diagnostics company Opko Health Inc. (NYSE:OPK), bought 47,000 shares of company stock for $322,234.
- Terrence Jacobs, an independent director of independent natural gas and oil company Linn Energy LLC (NASDAQ:LINE), bought 10,000 shares of company stock for $299,200.
- Larry Page, the Co-Founder and CEO of Google Inc (NASDAQ:GOOG), sold 20,835 shares for $18,158,676.
| #: | Filer Name | Insider Titles | Company Name | Ticker |
Trans Type |
Dollar Value |
|---|---|---|---|---|---|---|
|
1
|
BO
|
B
|
$10,780,979
|
|||
|
2
|
DIR
|
B
|
$476,538
|
|||
|
3
|
CEO,CB,BO
|
B
|
$322,234
|
|||
|
4
|
O
|
B
|
$299,200
|
|||
|
5
|
DIR
|
B
|
$157,200
|
|||
|
6
|
DIR
|
B
|
$135,908
|
|||
|
7
|
CFO
|
B
|
$103,747
|
|||
|
8
|
CB,PR,CEO
|
B
|
$99,989
|
|||
|
9
|
DIR
|
JB*
|
$99,619
|
|||
|
10
|
DIR
|
B
|
$94,869
|
Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes
| #: | Filer Name | Insider Titles | Company Name | Ticker |
Trans Type |
Dollar Value |
|---|---|---|---|---|---|---|
|
1
|
BO
|
JS*
|
$440,700,000
|
|||
|
2
|
BO
|
JS*
|
$64,360,000
|
|||
|
3
|
CEO,DIR,BO
|
AS
|
$18,158,676
|
|||
|
4
|
O
|
JS*
|
$15,715,128
|
|||
|
5
|
DIR
|
S
|
$12,865,997
|
|||
|
6
|
PT,BO
|
JS*
|
$8,503,424
|
|||
|
7
|
BO
|
S
|
$7,556,751
|
|||
|
8
|
BO
|
S
|
$4,219,203
|
|||
|
9
|
DIR
|
AS
|
$3,860,000
|
|||
|
10
|
DIR
|
AS
|
$2,519,521
|
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.
