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Insider Trading: Marc Lasry Boosts Stake in YRC Worldwide, Baupost Group Increases Idenix Holdings

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Plus, a purchase at Cornerstone Therapeutics.

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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:
  • The Italian pharmaceutical company Chiesi Farmaceutici S.p.A. bought 11,542,313 shares of specialty pharmaceutical company Cornerstone Therapeutics (NASDAQ:CRTX) for $109,651,976.
  • Baupost Group LLC, one of the largest hedge funds in the world, bought 16,420,241 shares of biopharmaceutical company Idenix Pharmaceuticals (NASDAQ:IDIX) for $106,731,568.
  • William Loomis, former CEO of Lazard LLC and a director at petrochemical producer Phillips 66 (NYSE:PSX), bought 13,600 shares of company stock for $1,000,277.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$109,651,976
2
BO
JB*
$106,731,568
3
BO
JB*
$61,999,996
4
BO
B
$59,303,100
5
BO
JB*
$34,999,996
6
BO
JB*
$15,000,000
7
CEO,DIR
JB*
$8,890,662
8
BO
JB*
$1,700,000
9
DIR
B
$1,104,430
10
DIR
B
$1,000,277

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
S
$19,264,152
2
VP
AS
$6,966,374
3
PR,CFO,TR
S
$6,210,361
4
DIR
S
$4,890,000
5
BO
S
$4,693,828
6
CEO,DIR
AS
$2,462,259
7
CEO,DIR
AS
$2,262,965
8
DIR
S
$2,154,555
9
VP,SO
S
$2,136,000
10
DIR
AS
$1,577,451

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."
No positions in stocks mentioned.
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