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Insiders at Chefs Warehouse Buy Shares While Ligand Pharmaceuticals Sees a Sale

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Plus, there were purchases at Williams Companies and Marlin Midstream.

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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 Wednesday, September 25, 2013.

Notable Purchases:

  • Stephen Hanson, a director at specialty food products distributor Chefs Warehouse (NASDAQ:CHEF), bought 30,000 shares of company stock for $630,000 while fellow director Joseph Cugine bought 2,000 shares for $42,000.
  • Keith Maxwell, a director at midstream oil and natural gas assets company Marlin Midstream Partners (NASDAQ:FISH), bought 10,700 shares of company stock for $190,520. Marlin Midstream provides natural gas gathering, transportation, treating, and processing, as well as crude oil transloading services (the process of transferring a shipment from one mode of transportation to another).
  • Frank Macinnis, a director at energy infrastructure company Williams Companies (NYSE:WMB), bought 3,800 shares of company stock for $139,494. The company is focused on connecting oil and natural gas plays to markets in North America, with operations spanning from the Gulf of Mexico to the Canadian oil sands.

Notable Sale:

  • The private equity firm BVF Partners LP sold 359,023 shares of biotechnology company Ligand Pharmaceuticals (NASDAQ:LGND) for $15,976,524. The company's business model involves acquiring and developing assets.
Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
JB*
$630,000
2
DIR,BO
B
$516,846
3
O
B
$276,256
4
DIR,BO
B
$190,520
5
DIR
B
$139,494
6
DIR,BO
B
$109,740
7
CB,CEO,DIR
B
$100,000
8
O
B
$79,419
9
BO
JB*
$45,628
10
DIR
JB*
$42,000

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$171,000,000
2
CB,DIR
AS
$77,161,438
3
BO
S
$15,976,524
4
COO,DIR
AS
$8,655,968
5
CEO,DIR
S
$3,454,000
6
CEO,DIR,BO
JS*
$2,970,000
7
BO
S
$2,377,260
8
DIR,BO
AS
$2,327,930
9
CB,DIR,BO
S
$2,023,915
10
DIR
AS
$1,588,000

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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