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In Insider Trading, Rexnord and Rite Aid Corporation See Major Insider Sales

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Plus, there was a purchase at Lennar Corporation and a sale at Micron Technology, Inc.

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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, June 28, 2013.

Notable Purchase:
  • Jeffrey Sonnenfeld, a Director of homebuilder and financial services provider Lennar Corporation (NYSE:LEN), bought 3,345 shares of company stock for $125,136.
Notable Sales:
  • Appolo Mangagement Group, a subsidiary of the global alternative asset manager Apollo Management Management LLC (NYSE:APO) sold 7,475,000 shares of multi-platform industrial company Rexnord Corp (NYSE:RXN) for $115,115,000.
  • The Canadian drugstore chain The Jean Coutu Group PJC Inc. (TSE:PJC.A) sold 40,500,000 shares of retail drugstore chain Rite Aid Corporation (NYSE:RAD) for $111,375,000.
  • Michael Sadler, the Vice President of Corporate Development of Micron Technology, Inc. (NASDAQ:MU), sold 193,750 shares of company stock for $2,722,896.
Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$10,000,140
2
CB,SEC,BO
JB*
$1,735,200
3
BO
B
$354,120
4
PR,CEO,DIR
JB*
$340,000
5
DIR
JB*
$150,000
6
DIR
JB*
$125,136
7
BO
JB*
$100,000
8
CEO,CB,BO
B
$92,372
9
BO
B
$86,814
10
BO
B
$62,313

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$115,115,000
2
BO
S
$111,375,000
3
DIR
JS*
$107,260,000
4
CB,DIR
AS
$87,049,632
5
VP,CFO
AS
$7,551,600
6
VP
S
$2,722,896
7
VP,PR
S
$2,442,823
8
CB,CEO,DIR
AS
$1,899,010
9
VP,GC,SEC
AS
$1,530,685
10
VP
AS
$1,428,543

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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