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Top Insider Trades: Apollo Unloads $1 Billion of LyondellBasell


While Icahn continues picking up Take Two.

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 Friday, November 9, 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.

Apollo Management (NYSE:APO), the investment group headed by billionaire Leon Black, sold slightly more than $1 billion worth of stock in chemical producer LyondellBasell (NYSE:LYB), which had been part of the company's "Fund V1." The sale, though large, represented less than 1% of Apollo's $100 billion assets under management.

Meanwhile, Mallika Srinivasa continues purchasing AGCO (NYSE:AGCO), this time picking up $7.9 million worth of the agricultural equipment maker where she is a director. This brings the total of her previously scheduled automatic buys over the past month to nearly $40 million, or nearly 10% of the company's $4.32 billion market capitalization.

Another insider making a repeat buy is Carl Icahn whose $10.2 million purchase of Take Two International (NASDAQ:TTWO) stock on the open market brings his purchases of the gaming software developer to $21.4 million in the past two weeks. Adding his May 2011 $81.8 million purchase, his total share, $103.2 million, means he controls over 10% of the company's $1.02 billion capitalization.

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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