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Insiders Buy Shares of Digital Generation and Goodrich Petroleum; Alexion Pharma's CEO Sells

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Plus, Harbinger Group buys shares of Spectrum Brands. Insiders sell Google and Facebook.

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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 12, 2013.

Purchases: The Cuban-American businessman Alex Meruelo, known most for being the majority owner of the NBA's Atlanta Hawks, bought 1,543,228 shares of ad management and distribution company Digital Generation (NASDAQ:DGIT) for $10,095,070. The company's stock price is down 35.93% year-to-date, though it is up 17.88% since April 8, as the company released expectations for Q1 earnings on April 9, with $90 million to $92 million Q1 revenue (analyst estimates are $92.94 million). The price currently sits at $6.99.

Josiah Austin, a Director of independent oil and natural gas company Goodrich Petroleum Corporation (NYSE:GDP), bought 60,000 shares of company stock for $1,500,000. The company engages in exploration, development, and production of oil and gas in Louisiana and Texas. The company's stock price is up 57.3% YTD. On April 5, the company priced a public offering of 4 million depositary shares of non-convertible, perpetual preferred stock, for $100 million. Each one of the shares is wroth 1/1000th ownership interest in non-convertible 10% series C cumulative preferred stock. The offering was settles and closed on April 10.

The diversified holding company Harbinger Group (NYSE:HRG) bought 18,200 shares of consumer products company Spectrum Brands (NYSE:SPB) for the price of $1,051,804, increasing its stake in the company to 29,975,386 shares, worth $1,733,176,818.52 at the current stock price of $57.82, which is up 69.11% since this time last year. The company has a market position in six categories of consumer goods: batteries, pet supples, electric shaving and grooming, home and garden products, electric personal hygiene, and portable lighting.

Sales: Leonard Bell, the CEO of biopharmaceutical company Alexion Pharmaceuticals (NASDAQ:ALXN), sold 26,700 shares of company stock for the price of $2,676,408. The company focuses on developing and commercializing therapeutic products for patients with severe and rare disorders. Its product Soliris is the first and only treatment approved for patients with two ultra-rare, life-threatening diseases: paroxysmal nocturnal hemoglobinuria, a blood disorder, and atypical hemolytic uremic syndrome, a genetic disease. The company's stock price is up 5.84% YTD.

Larry Page, the CEO and Co-Founder of Google (NASDAQ:GOOG), sold 41,668 shares of company stock for $32,831,738. Theodore Ullyot, the General Counsel and head of the legal team at Facebook (NASDAQ:FB), sold 51,270 shares of the social network's stock for $1,409,279.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$10,095,070
2
DIR,BO
JB*
$1,500,000
3
CB,CEO,BO
JB*
$1,211,000
4
BO
B
$1,051,804
5
CB,DIR,BO
JB*
$1,000,000
6
BO
B
$438,144
7
BO
B
$307,700
8
BO
JB*
$228,000
9
DIR
JB*
$225,000
10
CEO,DIR
JB*
$150,000

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CEO,DIR,BO
AS
$32,831,738
2
CEO,CB,BO
AS
$4,467,669
3
CEO,DIR
AS
$2,676,408
4
BO
JS*
$2,422,500
5
BO
AS
$2,325,860
6
DIR
S
$2,210,650
7
DIR
S
$2,120,265
8
VP,GC,SEC
AS
$1,409,279
9
COO
S
$1,310,137
10
DIR
JS*,AS
$1,052,000

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."

Follow me on Twitter: @JoshWolonick and @Minyanville

Editors's Note: This story has been corrected: it originally reported that Alex Meruelo owned the Atlanta Falcons.
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