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Insiders Buy Shares at Fairway Group and Universal Display

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Plus, a purchase at Associated Banc Corp., and a sale at Dollar General.

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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, April 24, 2013.

Purchases: The hedge fund Discovery Global Opportunity Fund, managed by Robert Citrone, bought 92,050 shares of flat screen display company Universal Display (NASDAQ:PANL) for $2,776,081. The company is focused on the research, development, and commercialization of organic light emitting diode (OLED) technology, which has several advantages over typical screens. OLED tech will allow for lower costs in the future, lightweight and even flexible displays, wider viewing angles, increased brightness, better power efficiency, and better response time (powering up and refresh rate). The company's stock price is down 18.69% since this time last year, but has rallied 25.8% year-to-date.

Charles Santoro, the Chairman of retail food company Fairway Group (NASDAQ:FWM), bought 50,000 shares of company stock for $650,000. Santoro is a Co-Founder and Managing Partner of Sterling Investment Partners, which announced majority ownership of Fairway Market in 2007. Also purchasing company stock, Executive Vice President and CFO Edward Arditte bought 5,000 shares for $65,000. Arditte took his positions at Fairway in December, and is also the Senior Vice President of Strategy & Investor Relations at Tyco International (NYSE:TYC). The company had an IPO on April 17, selling 13.6 million shares at $13 each. Along with the IPO, the New York-based company announced the goal of expanding to 300 stores nationwide. Shares are currently trading at $17.95.

Robert Jeffe, a Director of bank holding company Associated Banc Corp. (NASDAQ:ASBC), bought 10,000 shares of company stock for the price of $287,500. Jeffe has also worked for Deutsche Bank (NYSE:DB), Morgan Stanley (NYSE:MS), Credit Suisse (NYSE:CS), and Smith Barney, which is now Citigroup (NYSE:C). The company reported earnings of $1 per share for 2012, representing significant gains from a loss of $0.18 per share in 2010 and a gain of $0.66 per share in 2011. In 2012, the company increased its annual dividend from $0.04 to $0.32 per share. The stock's price is up 6.64% since this time last year, and it is up 8.92% YTD.

Sales: Adrian Jones, a Director of discount retailer Dollar General (NYSE:DG), sold 975,177 shares of company stock for $48,895,375. On April 3, Jones sold 6,391,602 shares for $302,474,912. Since the close on April 3, the stock's price has increased by 5.35% to $52.84 and it has increased 19.66% YTD and 13.95% since this time last year. Earlier this month, the company announced the pricing of an offering of $1.3 billion worth of senior notes, with $400 million of 1.875% Senior Notes due 2018 and $900 million of 3.25% Senior Notes due in 2013. The company will pay interest on the notes semi-annually, commencing on October 15, 2013.
Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
JB*
$9,800,000
2
BO
B
$2,776,081
3
DIR
AB
$806,598
4
CB,DIR,BO
JB*
$650,000
5
DIR
JB*
$287,500
6
DIR
B
$81,470
7
CB,DIR
B
$81,362
8
VP,CFO
JB*
$65,000
9
PR,CEO,DIR
B
$59,050
10
DIR
B
$37,848

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
AS
$228,603,408
2
CB,DIR
AS
$68,230,952
3
DIR
JS*
$48,895,376
4
VP,DIR
AS
$16,011,294
5
VP
AS
$12,469,751
6
CB,DIR
S,JS*
$9,800,000
7
CB,PR,CEO
AS
$7,247,784
8
BO
S
$2,351,050
9
VP,CFO
AS
$2,046,000
10
COO
S
$1,895,176

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."

Follow me on Twitter: @JoshWolonick and @Minyanville

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