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Insiders Trading FRX, SIRI, KMI

By Jonathan Moreland, founder of Insider Insights and author of Profit From Legal Insider Trading.

NEW YORK ( TheStreet) -- It is a victory for common sense. Tracking the trading behavior of company executives, directors and large shareholders in the stocks of firms they're registered in as "insiders" has proven to be profitable, according to both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Friday, Sept. 14, 2012 as ranked by dollar value. Please note, however, that these are only 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.

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.

So use these regular Top Insider Trades columns as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to contact us with any questions on our proprietary insider data, and how it is best analyzed.

Sirius (SIRI) Liberty Media BO 11,097,162 27,032,686
Forest Lab (FRX) Icahn Carl BO 375,656 13,001,153
AGCO (AGCO) Srinivasan Mallika DIR 103,466 4,674,619
Wausau Paper (WPP) Starboard Value BO 82,673 727,356
FXCM (FXCM) Niv Ornit O 50,000 490,575
BR Build Amer (BBN) Harris Jerrold DIR 16,000 370,695
FXCM (FXCM) Sakhai David COO,DIR 30,000 291,738
OPTI (OPTI) S Muoio BO 460,000 215,740
Fidelity, Bancorp (FDBC) Cali Brian J DIR 7,623 161,986
Vanguard Nat (VNR) Pence Britt VP 5,000 136,600
Source: Insider Insights
Kinder Morgan (KMI) Goldman Sachs O 4,911,162 169,484,208
YELP (YELP) Stoppelman Jeremy CEO,DIR,BO 590,790 15,087,743
Sherwin (SHW) Oberfeld Steven VP 48,576 7,048,026
Fidelity Natl Fin (FNF) Willey Frank P DIR 350,000 6,955,900
Ulta Salon (ULTA) Diromualdo Robert F DIR 60,000 5,949,349
Fidelity Natl (FIS) Hagerty Thomas DIR 178,848 5,712,029
Encore (ECPG) Mesdag Willem DIR 182,000 5,083,260
Autonation (AN) Maroone Michael PR,COO,DIR 118,677 4,905,609
Masco (MAS) Manoogian Richard DIR 300,000 4,755,198
Ashland (ASH) Obrien James CEO 60,072 4,570,278
Source: Insider Insights

Key to Titles: A=Assistant, AI=Affiliated Investor, AO=Accounting Officer, BD=Business Development, BO=Beneficial Owner, CAO=Chief Accounting Officer, CB=Chairman, CCO=Chief Compliance Officer, CEO=Chief Executive Officer, CFO=Chief Financial Officer, CIO=Chief Information Officer, CO=Compliance Officer, COO=Chief Operating Officer, CT=Controller, CTO=Chief Technology Officer, DIR=Director, EVP=Executive Vice President, F=Founder, FO=Financial Officer, GC=General Counsel, HR=Human Resources, IO=Information Officer, IR=Investor Relations, LO=Legal Officer, MD=Managing Director, O=Officer, OO=Operating Officer, PR=President, PT=Partner, REL=Relative of an insider, SEC=Secretary, SH=Shareholder, SO=Sales Officer, TO=Technology Officer, TR=Treasurer, TT=Trustee, VCB=Vice Chairman, VP=Vice President, X=Ex Officer or other title displayed.

Jonathan Moreland is the founder of InsiderInsights.com, which produces a weekly newsletter and offers professional screening and alerting tools to analyze a proprietary, real-time insider data feed. He is also the principal of Insider Asset Management, a registered investment advisor in New York. Mr. Moreland has been analyzing insider data professionally for two decades and has been a contributor to TheStreet.com since 2001. A fundamental analyst with an MBA in finance, Mr. Moreland long ago identified insider data as an excellent first screen to determine where to focus his research efforts. He is quoted frequently in the media for his insider analysis and stock recommendations stemming from it. He is also author of Profit From Legal Insider Trading.

Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While he cannot provide investment advice or recommendations, Moreland appreciates your feedback; click here to send him an email.

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