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Insider Trading: Three Insiders Buy Shares of American Realty Capital Partners, and Hedge Fund Buys Stake in Saba Software

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Plus, purchases at Trans World Corporation and Zweig Total Return Fund.

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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 Thursday, April 11, 2013. The biggest news from yesterday was all on the purchasing side (see the chart below for insider sales).

Purchases: Phillip Hempleman's hedge fund Ardsley Advisory Partners bought 200,000 shares of Saba Software (PINK:SABA) for $1,378,000. Saba is a provider of learning and talent management solutions via cloud technology, using its Saba People Cloud to provide clients with applications for client management, enterprise learning, testing and assessment, and collaboration solutions. The Shuman Law Firm announced yesterday that it would be investigating potential claims against officers of the company concerning accounting problems. Also yesterday, the company was delisted from Nasdaq.

The real estate investment trust American Realty Capital Properties Inc. (NASDAQ:ARCP) saw three purchases: Vice President Peter Budko bought 30,001 shares of company stock for $470,620, while Director William Kahane and Chairman and CEO Nicholad Schorsch each bought 30,000 shares for the price of $470,613. Yesterday the company officially rescinded its unsolicited $9.7 billion offer to acquire the Phoenix-based Cole Credit Property Turst III Inc. The merger would have made American Realty the largest publicly traded net-lease REIT in the US.

Lloyd Miller bought 130,000 shares of Trans World Corporation (PINK:TWOC) for $328,250, increasing his total stake in the company to 1,319,895 shares, worth $3,299,737.50. The company is engaged in the acquisition and development of gaming establishments primarily in Louisiana, but it also operates casinos and a hotel in the Czech Republic. The stock's price is down 16.67% from this time last year.

Neel Carlton, a Senior Vice President and Portfolio Manager of close-ended, diversified management company Zweig Total Return Fund, Inc. (NYSE:ZTR), bought 15,000 shares of company stock for $193,050. The stock's price is up 5.36% YTD.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$1,378,000
2
VP,FO
B
$470,629
3
DIR
B
$470,613
4
CB,CEO,DIR
B
$470,613
5
BO
JB*
$450,000
6
BO
B
$328,250
7
VP
B
$193,050
8
CEO,CB,BO
B
$141,910
9
VP
B
$99,645
10
PR,CEO,DIR
JB*
$79,586

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
S
$36,788,448
2
DIR
S
$30,742,000
3
DIR
S
$4,168,704
4
CEO,DIR
S
$4,029,186
5
CB,CEO,BO
AS
$3,657,500
6
LO,CO
S
$2,650,000
7
BO
AS
$1,218,300
8
VP
AS
$1,106,824
9
COO
AS
$1,061,700
10
DIR
AS
$934,776

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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