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Three Insiders Buy Shares of Independent Bank Group After IPO

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Plus, Dollar General see a $1.48 billion insider sale, and Universal Display, The Zweig Fund, and The Zweig Total Return Fund all see buys.

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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 5, 2013.

Purchases: The Discovery Global Opportunity Master Fund Ltd. bought 91,600 shares of organic light emitting diode (OLED) technologies company Universal Display (NASDAQ:PANL) for $2,510,508. Last Thursday, the company was upgraded by Needham from Hold to Buy. Its stock price, at $29.89, has increased 8.26% since last Thursday morning.

The Texas-based bank holding company Independent Bank Group (NASDAQ:IBTX) saw three purchases, with President and COO Torry Berntsen buying 20,192 shares of company stock for $524,992, Director Michael Viola buying 19,231 shares for $500,006, and Director Brian Aynesworth buying 7,692 shares for $199,992. Today the company announced the closing of its IPO, having sold 3,680,000 shares of common stock to the public at $26.00 per share, with the offering having been priced on April 2. Net proceeds are approximately $87 million. The company's stock currently trades at $28.70.

Neel Carlton, the Senior Vice President of diversified management investment company The Zweig Fund (NYSE:ZF), bought 25,000 shares for $322,500. The company will begin trading ex-dividend tomorrow, Tuesday, April 9. A cash dividend of $0.223 per share will be paid to shareholders on April 18. The dividend is 7.21% higher than the prior quarter's, and with a current stock price of $12.76, the yield is near 7%. Neel Carlton also bought 15,000 shares of The Zweig Total Return Fund (NYSE:ZTR) for $194,600.

Sales: Buck Holdings L.P., a private investor group that includes affiliates of KKR (NYSE:KKR) and Goldman Sachs (NYSE:GS), sold 29,494,346 shares of Dollar General (NYSE:DG) for $1,478,846,464. Buck Holdings took the company private in 2007 and in 2009 led its IPO at $21 per share. The company today trades at $50.11. Last month, on March 25, the company reported earnings per share of $0.97 for Q4, up from $0.85 for the same period in 2011.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$2,510,508
2
PR,COO,DIR
JB*
$524,992
3
DIR
JB*
$500,006
4
VP
B
$322,500
5
DIR
JB*
$199,992
6
VP
B
$194,600
7
CEO,CB,BO
B
$158,728
8
VP
JB*
$110,000
9
PR,CEO,DIR
AB
$47,131
10
O
JB*
$40,000

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$1,478,846,464
2
BO
JS*
$243,093,104
3
BO
JS*
$25,507,026
4
DIR
S
$9,600,000
5
CFO
AS
$2,752,378
6
CEO,PR,DIR
JS*
$1,688,000
7
DIR
AS
$1,370,428
8
CFO,VP,DIR
JS*
$1,055,000
9
CB,DIR,BO
S
$936,959
10
CB,CEO,DIR
S
$895,150

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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