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Insider Stock Trading: John Thain Buys Shares at CIT Group; Purchases at Seattle Genetics and Gogo

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Plus, an insider buys at Liquid Holdings Group.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside purchases recently filed with the SEC.

Notable Purchases:
  • Felix Baker, a director at biotechnology company Seattle Genetics (NASDAQ:SGEN), bought 189,611 shares of company stock for $6,460,552.
  • Jay Howard Bernstein, a director at financial services-centric software technology company Liquid Holdings Group (NASDAQ:LIQD), bought 1,820,000 shares of company stock for $2,313,378. Meanwhile, David Francescani, another director at the company, bought 600,000 shares for $750,000. 
  • John Thain, CEO of bank holding company CIT Group (NYSE:CIT), formerly chief executive at Merrill Lynch & Co. and past CEO of NYSE Euronext, bought 40,000 shares of company stock for $1,661,548.
  • Charles Townsend, a director at in-flight connectivity and wireless in-cabin digital entertainment solutions company Gogo (NASDAQ:GOGO), bought 100,000 shares of company stock for $1,288,802.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR,BO
B
$6,460,552
2
DIR
B
$2,313,378
3
O
B
$2,206,534
4
DIR
B
$2,153,976
5
CB,CEO
B
$1,661,548
6
O
B
$1,511,689
7
DIR
B
$1,288,802
8
DIR
B
$994,406
9
DIR
B
$750,000
10
DIR,BO
JB*
$735,000

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$632,004,608
2
CB,CEO,BO
JS*
$80,990,000
3
CEO,DIR,BO
AS
$34,909,800
4
DIR
S
$13,464,295
5
CEO,DIR
S
$9,489,677
6
BO
JS*
$7,500,000
7
CB,DIR
JS*
$4,510,800
8
CEO,DIR
AS
$3,969,519
9
DIR
AS
$3,404,477
10
DIR
S
$2,465,494

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."
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No positions in stocks mentioned.
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