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Top Insider Trades: FWM DG PANL ASBC

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 Wednesday, April 24, 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, 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.
Encore Capital (ECPG) Mesdag Willem DIR 350,000 9,800,000
Universal Display (PANL) Disc Gl Op Fd BO 92,050 2,776,081
AGCO (AGCO) Srinivasan Mallika DIR 16,200 806,598
Fairway Group (FWM) Santoro Charles W CB,DIR,BO 50,000 650,000
Associated Banc (ASBC) Jeffe Robert A DIR 10,000 287,500
Bank Of The Ozarks (OZRK) Kenny Peter C DIR 2,000 81,470
Synergy Pharm (SGYP) Cerrone Gabriel CB,DIR 18,000 81,362
Fairway Group (FWM) Arditte Edward C VP,CFO 5,000 65,000
Arrow Financial (AROW) Murphy Thomas J PR,CEO,DIR 2,500 59,050
Cardinal Financial (CFNL) Buck William G DIR 2,500 37,848
Source: Insider Insights
Microsoft (MSFT) Gates William H III DIR 7,394,507 228,603,408
Google (GOOG) Schmidt Eric E CB,DIR 83,700 68,230,952
Dollar General (DG) Jones Adrian M DIR 975,177 48,895,376
Enstar (ESGR) O Shea Paul J VP,DIR 128,405 16,011,294
Enstar (ESGR) Packer Nicholas A VP 100,000 12,469,751
Encore Capital (ECPG) Lund George CB,DIR 350,000 9,800,000
Six Flags Ent (SIX) Reid Anderson J CB,PR,CEO 96,464 7,247,784
Acura Pharm (ACUR) Care Capital II BO 815,000 2,351,050
Nike (NKE) Blair Donald W VP,CFO 33,000 2,046,000
JPMorgan Chase (JPM) Bisignano Frank COO 40,000 1,895,176
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 , 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 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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