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Top Insider Trades: Srinivasan Continues AGCO Buying


Warner Chilcott, Facebook insiders sell. Delek sells part of US subsidiary.

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 Tuesday, November 20, 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.

Mallika Srinivasan, director of AGCO (NYSE:AGCO), has been buying up shares of the agricultural equipment maker regularly since September. These have been all previously scheduled automatic buys under the insider's 10b5-1 program. Her latest two purchases which combined, total $10 million, bring the value of her stake acquired over the past three months to about $115 million.

The heavy action has been on the sell side, according to SEC documents. Notable insider sales included a $58 million sale by Stephen P. Murray of the private equity firm CCMP Capital Advisors of specialty pharmaceutical company Warner Chilcott Public Limited (NASDAQ:WCRX). Marc L. Andreessen sold $54.2 million worth of Facebook (NASDAQ:FB) stock. Andreessen is known as the inventor of the Web browser.

Delek Petroleum, based in Israel, sold a 3.7% stake in its US subsidiary, Delek US Holdings (NYSE:DK), for $57 million. The purchaser was reported to be a large financial institution. In September it sold a 5% stake for $76 million. It now holds 53% of the US subsidiary, an integrated energy business focused on petroleum refining.

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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