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Top Insider Trades: Janus, AGCO, Aegerion, and IGT All Made the Buy List


Dollar General, Amazon, and Google insiders all sell.

In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they're registered "insiders" at have been proven profitable to monitor by both academic studies and (more importantly) the experience of your fellow professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission, Monday, December 3, 2012 as ranked by dollar value.

Please note, however, that these are factual lists, 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.

While the perpetual inside purchasers -- Dai-Ichi (PINK:DCNSF) buying Janus (NYSE:JNS), Mallika Srinivasan buying AGCO (NYSE:AGCO) -- remained on the list, there were a few new names including Perceptive Advisors who made an open market buy of almost $3.9 million worth of stock in emerging biopharmaceutical company Aegerion (AEGR). Perceptive Advisors, founded by Joseph Edelman in 1999, is a biotech-focused hedge fund. Its other top holdings include Infinity Pharmaceuticals (NASDAQ:INFI), Repros Therapeutics (NASDAQ:RPRX) and Neurocrine Bioscience (NBIX). It appears that the recently filed purchase of AEGR has made that the third largest holding of the hedge fund, slightly edging out NBIX. However, the timing of filings can lag actual transactions.

On a smaller scale, David E. Roberson, senior vice president and director with International Game Technology (NYSE:IGT), made a $167,280 purchase of the electronic gaming equipment designer and manufacturer. IGT has been in the news lately, having been recently upgraded by Deutsche Bank (NYSE:DB), touted by Jim Cramer, and the host of an investor conference. All of Roberson's previous IGT insider transactions, from 2010 to the most recent, have been sales.

On the sell side, KKR's Buck Holdings continued unloading Dollar General (NYSE:DG) stock, Jeff Bezos sold Amazon (NASDAQ:AMZN), and John Doerr sold Google (NASDAQ:GOOG). The amounts were rought $470 million, $198 million, and $13 million respectively and all were previously scheduled transactions.

Oak Hill Advisors sold $18 million in Cooper-Standard Holdings's (PINK:COSH) stock on the open market. This time last year, it was a purchaser of the automotive system and component manufacturer.

At, 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.

Source: | Key to Insider Title and Trans Type Codes

Source: | Key to Insider Title and Trans Type Codes

Editor's note: Jonathan Moreland is the founder of Insider Insights and author of "Profit From Legal Insider Trading."
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