Top Insider Trades: SPG NSH VNTV HTZ

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, December 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, 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.
VMware (VMW) EMC BO 69,660 6,423,813
Cumulus Media (CMLS) Crestview Radio DIR,BO 1,478,228 3,564,072
Nustar Gp (NSH) Greehey William E DIR,BO 59,700 1,695,150
Tyler Tech (TYL) Womble Dustin R VP,DIR 15,000 710,700
Puma Biotech (PBYI) Adage Capital Gp BO 30,400 577,550
Aveo Pharm (AVEO) Ha Ngoc Tuan CEO,DIR 75,000 498,955
Pbf Energy (PBF) O Malley Thomas D CB,DIR 16,936 440,336
Akorn (AKRX) Weinstein Alan D DIR 30,500 416,811
Montpelier Re (MRH) Taylor Anthony DIR 15,000 408,000
Zaza Energy (ZAZA) Brooks Todd Alan CEO,DIR,
196,850 404,522
Source: Insider Insights
Simon Property (SPG) Melvin Simon BO 3,000,000 449.2 M
Vantiv (VNTV) Fifth Third Bancorp DIR,BO 13.7 M 265.7 M
Hertz Global (HTZ) C Dubilier & Rice Fd BO 13.9 M 219.3 M
Webster Finl (WBS) Warburg Pincus DIR,BO 10 M 198.5 M
Simon Property (SPG) Simon Herbert CB,DIR 928,200 138.9 M
Acadia Health (ACHC) Waud Reeve B DIR,BO 2,837,282 61,285,292
Hyatt Hotels (H) PG Nicholas Tr O 1,556,713 55,745,892
Fidelity Natl Info (FIS) Hagerty Thomas M DIR 605,901 21,891,740
Garmin (GRMN) Kao Min H CEO 525,000 21,554,032
Stericycle (SRCL) Schuler Jack W DIR 198,442 18,601,118
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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