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Insiders Buy Shares at General Electric and Gain Capital

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Plus a purchase at InspireMD following an FDA regulatory trial approval, and a sale at Performant Financial Corporation following its secondary public offering.

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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, April 26, 2013.

Purchases: The British Virgin Islands-based Master Global Assets Ltd. bought 506,616 shares of online trading services provider Gain Capital (NYSE:GCAP) for $2,825,238, increasing its total stake in the company to 5.2 million shares. For retail and institutional traders worldwide, Gain Capital specializes in foreign exchange, contracts for difference, and equities. On Thursday, April 25, FXCM Inc. (NYSE:FXCM), an online provider of foreign exchange trading services, withdrew its unsolicited proposal to merge with and acquire Gain Capital for $210 million. When the offer was originally received on April 9, the stock's value jumped from $4.27 at the close on April 8 to $5.27 for April 9's close, an increase of 23.42%. The stock saw a 13.46% decrease from April 25's open to April 26's close.

William Beattie, an Independent Director of General Electric (NYSE:GE), bought 10,000 shares of company stock for $218,000. Beattie is also the President of The Woodbridge Company Ltd., a privately held investment company for the Thomson family of Canada, and is also the majority shareholder of Thomson Reuters (NYSE:TRI), where Mr. Beattie serves as Deputy Chairman and Director. He is also a Director of Royal Bank of Canada (TSE:RY). As of April 24. GE Capital, the company's lending service, has ceased offering consumers financing programs to gun retailers.

Sol Barer, a Director of Israeli medical products company InspireMD Inc. (NYSEMKT:NSPR), bought 50,000 shares of company stock for $100,000. The company focuses on the development and commercialization of a stent platform technology called MGuard. (A stent is a mesh tube that can be inserted into a natural passage of the body, such as an artery, to prevent a disease-induced, localized flow constriction; they are commonly used in the angioplasty procedure, which restores blood flow through narrow or blocked arteries.) On April 23, the company announced that it had received approval from the FDA to begin a US regulatory trial, with 1,114 patients suffering from ST Elevation Myocardial Infarction (STEMI), to support InspireMD's application to market its MGuard product.

Sales: PCP Managers, LLC sold 5,000,000 shares of Performant Financial Corp. (NASDAQ:PFMT) for $57,450,000, increasing its stake in the company to 17,729,424 shares. Performant provides technology-enabled recovery and analytics services to a wide range of clients, helping companies identify and recover delinquent or defaulted assets and improper payments. On April 23 the company announced a secondary public offering of 6.5 million common stock shares with all proceeds going to selling shareholders. Since the 23rd, the company's stock price has decreased by 8.03%.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$2,825,238
2
DIR
B
$218,000
3
DIR
JB*
$100,000
4
DIR
B
$84,817
5
BO
JB*
$76,475
6
O
B
$42,615
7
PR,CEO,DIR
B
$42,160
8
CEO,DIR
B
$40,000
9
BO
B
$24,688
10
DIR
B
$19,795

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
BO
JS*
$392,150,016
2
CB,DIR
AS
$60,867,136
3
BO
JS*
$57,450,000
4
BO
S
$8,029,678
5
BO
AS
$6,191,389
6
VP,COO
S
$4,762,140
7
DIR
AS
$1,103,600
8
DIR
AS
$914,819
9
CB,CTO,DIR
AS
$875,000
10
VP,CFO
AS
$792,194

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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No positions in stocks mentioned.
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