Top Insider Trades: CBRL KAR LYB SYRG

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 Thursday, December 13, 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, 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.
Cracker Barrel (CBRL) Biglari Sardar BO 504,216 31,558,556
Aradigm (ARDM) First Eagle Inv BO 41.6 M 5,000,000
United Ins (UIHC) Branch Gregory C DIR 427,647 2,213,008
Synergy Res (SYRG) Seward George L DIR 170,000 753,960
Nustar Gp (NSH) Greehey William E DIR,BO 25,200 696,208
MVB Financial (MVBF) Patel Nitesh DIR 20,833 499,992
Interactive Intel (ININ) Hill Mark E DIR 15,669 482,792
Spark Networks (LOV) Osmium Partners BO 60,393 385,199
First Opp Fund (FOFI) Adams Nicholas C FO 35,200 266,551
Thestreet (TST) Martin William C BO 129,597 213,341
Source: Insider Insights
Lyondellbasell Ind (LYB) Apollo Mgt BO 21,000,000 1,013,880,000
Avago Tech (AVGO) Kkr Fund O 11,397,180 392,404,896
Kar Auction (KAR) Kar II BO 15,525,000 259,461,568
Kar Auction (KAR) Kelso Investment BO 6,585,111 110,053,664
Kar Auction (KAR) Goldman Sachs BO 3,934,778 65,759,976
Winner (WWIN) Li Jianquan CEO,DIR,
13,513,569 60,811,060
Visa (V) Partridge John PR 174,598 26,088,057
Usana Health (USNA) Gull Holdings BO 464,050 20,080,194
Heartware Intl (HTWR) Harrison Seth L DIR 175,409 14,313,675
Google (GOOG) Shriram Kavitark DIR 18,000 12,787,184
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.