NEW YORK ( TheStreet) -- Academic studies have shown that insider trading is most profitable when several insiders buy around the same time. A study by University of Illinois professor Josef Lakonishok and his student Inmoo Lee showed that insider purchases generate more than 7 % per year in excess returns above index funds.

Insider Monkey compiled the list of companies with at least three insiders buying with the latest purchase made in November. Here are the six stocks insiders agree will beat the index funds during the next six months:

1. Boston Private (BPFH): The stock is up more than 3% since the last insider purchase on Monday. If you had bought BPFH last Thursday after the initial insider purchase was announced, you could've made nearly 5% in less than a week.

2. Charles & Colvard (CTHR): CTHR is up more than 2% since the last insider purchase on Monday. If you had bought this stock last Thursday after the initial insider purchase, you could have made nearly 7% in less than one week.

3. Pixelworks (PXLW): Pixelworks is up more than 4% since the last insider purchase on Monday. If you had bought it at the end of August after the previous insider purchase, you could have made nearly 23% in a little more than two months.

4. Cedar Fair (FUN): FUN is up more than 3% since the last insider purchase on Friday. If you had bought it in mid September after the first insider purchase, you could have made more than 25% in less than two months.

5. Calamp Corp (CAMP): Calamp Corp is up nearly 7% since the last insider purchase on Thursday (one week ago). If you had bought CAMP on Oct. 28 after the previous insider purchase was announced, you could have made nearly 7% in two weeks.

6. Rimage Corp (RIMG): Rimage Corp is up nearly 4% since the last insider purchase on Monday. If you had bought RIMG on Thursday (one week ago) after the first insider purchase was announced, you could have made more than 7% in just one week.

This article was originally published at Insider Monkey.

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Meena Krishnamsetty is the editor of Insider Monkey, a Web site that provides free real-time insider-trading data. Insider Monkey houses a finance blog with commentaries and evidence based articles on the intricacies of investing and market anomalies. Insider Monkey also provides a hybrid evaluation system that exploits the market's insider transactions.

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