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Stocks: Insiders Buy Abercrombie & Fitch, Ulta, and BJ's Restaurants

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Plus, a purchase at Management Network Group.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside purchases recently filed with the SEC.

Notable Purchases:
  • Luxor Capital Partners bought 456,667 shares of casual-dining restaurant chain BJ's Restaurants (NASDAQ:BJRI) for $15,845,198. Meanwhile, activist investor Patrick Walsh, CEO of PW Partners Atlas Fund II, bought 90,375 shares for $3,124,249. Along with Luxor Capital Partners, PW Partners Atlas Fund II is attempting to nominate five new board members at BJ's next shareholder meeting. Walsh has a reputation for targeting casual-dining restaurants chains. Last year, he claimed a board seat at Famous Dave's of America (NASDAQ:DAVE) and in the past has held stakes in Denny's (NASDAQ:DENN) and Red Robin Gourmet Burgers (NASDAQ:RRGB).
  • The Web-based building management systems provider Elutions bought 609,756 shares of Management Network Group (NASDAQ:TMNG), which provides professional services and technical solutions to the communications, digital media, and technology industries, for $2,000,000.
  • Mary Dillon, CEO of beauty products retailer Ulta Salon, Cosmetics, & Fragrance (NASDAQ:ULTA), bought 5,000 shares of company stock for $486,740.
  • Charles Perrin, a director at specialty retailer Abercrombie & Fitch (NYSE:ANF), bought 10,000 shares of company stock for $394,970.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$15,845,198
2
O
B
$3,124,249
3
BO
JB*
$2,000,000
4
CEO,DIR
B
$486,740
5
DIR
B
$394,970
6
BO
B
$368,466
7
CEO,CB,BO
B
$203,978
8
BO
B
$117,000
9
CEO,DIR
B
$114,750
10
DIR,BO
B
$104,817

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR,BO
JS*
$189,034,128
2
BO
Q
JS*
$179,310,832
3
BO
JS*
$23,422,636
4
CB,CEO
S
$18,718,018
5
DIR,BO
S
$6,632,373
6
CEO,DIR,BO
S
$5,788,800
7
CB,CEO
S
$5,514,534
8
CFO
AS
$4,143,896
9
CFO
AS
$4,103,453
10
CB,CEO,DIR
S
$3,995,392

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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