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Top Insider Trades: SHLD BWC NCT JAZZ

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, Jan. 11, 2013 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.

Babcock & Wilcox (BWC) Mason Capital BO 2,800,000 68,600,000
Sears (SHLD) Lampert Edward DIR,BO 332,048 13,576,982
Scg Finl Acq (SCGQ) Drw BO 600,000 6,000,000
Newcastle Inv (NCT) Edens Wesley DIR 106,950 999,983
Newcastle Inv (NCT) Nardone Randal SEC 106,950 999,983
Opko Health (OPK) Frost Phillip MD CEO,CB,
BO
46,000 242,997
Thomas Prop (TPGI) Thomas James A CB,PR,
CEO
43,400 228,991
United Comm (UCBA) Ewbank Robert DIR 12,500 100,000
Multiband (MBND) Cannell Cap BO 44,019 81,501
Insmed (INSM) Lewis William PR,CEO 10,770 74,313
Source: Insider Insights
Kellogg (K) Kellogg WK Fdn Tr BO 51,900 2,965,089
Alexion (ALXN) Bell Leonard CEO,DIR 27,197 2,718,612
Jazz Pharm (JAZZ) Enright Patrick DIR 41,822 2,363,917
Kraton (KRA) GMT Capital BO 28,885 726,842
Walker & Dunlop (WD) Credit Suisse Ag BO 26,998 476,379
Pier 1 Imports (PIR) Leite Sharon M VP 20,000 414,580
3d Systems (DDD) Hull Charles W VP,CTO,
DIR
6,000 354,085
Lpl Financial (LPLA) Brown Stephanie GC 10,350 310,500
Rosetta Stone (RST) Swad Stephen CEO,PR,
DIR
24,452 302,184
Kmg Chemicals (KMG) Leonard Fred DIR 15,327 289,955
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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