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Insiders Buy Shares at Cache, Huntington Bancshares, and Vocus

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Plus, a sale at Asset Acceptance Capital Corp.

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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, May 3, 2013.

Purchases: Mill Road Capital bought 2,121,212 shares of specialty retailer Cache (NASDAQ:CACH) for $3,500,000. The company sells sportswear and dresses nationwide in mall retail shops and online, running the gamut from casual workout clothes to special occasion gowns and accessories. On April 29, the company announced that Arnold Cohen would be joining the company as Executive Vice President and Chief Marketing Officer: Cohen has held positions in managerial, creative, and brand building roles at J. Crew, Gucci (OTCMKTS:GUCG), American Eagle Outfitters (NYSE:AEO), and DSW (NYSE:DSW). The company's stock price is down 2.81% since April 30, but it has increased 57.02% year-to-date.

Peter Kight, a Director of multi-state diversified regional bank holding company Huntington Bancshares Incorporated (NASDAQ:HBAN), bought 100,000 shares of company stock for $711,894. The company announced on May 2 that Michael W. Anderson will lead the expansion of the company's treasury management division. He is joining Huntington from Japanese-based banking company Mitsubishi UFJ Financial Group (NYSE:MTU), where he served as general manager of transaction banking for the Americas. The company's stock price has increased 14.08% year-to-date, and it is up 12.33% since this time last year.

The Okumus Opportunistic Value Fund bought 60,775 shares of cloud marketing software company Vocus (NASDAQ:VOCS) for $501,789. The company offers software that provides marketing and publicity solutions through social media, Internet search, and e-mail. On April 23, the company announced Q1 earnings, with EPS of $0.09 missing the consensus estimate of $0.10 and revenue of $46.2 million missing the estimate of $46.51 million. The stock's current price of $8.42 is down 30.83% since the close on April 23.

Sales: The Nierenberg Investment Management Company sold 3,545,842 shares of Asset Acceptance Capital Corp. (NASDAQ:AACC) stock for $22,870,680. Asset Acceptance Capital is a leader in the debt purchasing and collection industry, providing credit card issuers, consumer finance companies, retail merchants, utilities, and other companies with an efficient alternative to recovering defaulted consumer debt. In its 2013 Q1 earnings report on April 29, the company reported net income of $400,000, and earnings per share of $0.01, down from net income of $5.4 million and earnings per share of $0.18 for Q1 2012. Revenue fell 10.7% from the year before quarter to $55.2 million. Despite sharp losses, the company's stock price is up 44.67% year-to-date, and it is up 18.36% since this time last year.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B,JB*
$7,073,804
2
BO
B
$4,998,444
3
BO
JB*
$3,500,000
4
DIR
B
$711,894
5
CEO,CB,BO
B
$524,888
6
BO
JB*,B
$501,789
7
DIR
B
$199,601
8
CFO,DIR
JB*
$165,000
9
DIR
B
$125,280
10
DIR
JB*
$99,294

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
JS*
$674,615,424
2
PR,CEO,DIR
AS
$23,765,290
3
BO
S
$22,870,680
4
DIR
AS
$22,502,138
5
DIR
N
AS
$8,839,820
6
CEO,DIR,BO
AS
$4,138,668
7
VP,GC
S
$3,909,841
8
CB,CTO,DIR
AS
$3,573,274
9
PR,DIR
S
$3,052,996
10
PR
S
$2,759,610

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
No positions in stocks mentioned.
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