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. 25, 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.
Ligand Pharm (LGND) Bvf Partners BO 39,600 783,181
Bank of America (BAC) Yost R David DIR 20,000 230,600
Multiband (MBND) Cannell Capital BO 51,200 102,345
HEPI (HEPI) Maggiore Christopher BO 201,125 51,396
Kentucky Banc (KTYB) Woodford Buckner DIR 2,200 43,480
Cardinal Finl (CFNL) Buck William G DIR 1,500 24,480
Norwegian Cruise (NCLH) Beck Wendy A VP,CFO 1,200 22,800
Kentucky Banc (KTYB) Elliott James L VP 1,000 19,750
Kentucky Banc (KTYB) Prichard Louis PR,CEO,DIR 725 14,283
Bingo.Com (BNGOF) Williams Tryon CB,DIR,BO 25,000 10,000
Source: Insider Insights
Mastercard (MA) Mastercard Fdn BO 35,616 18,493,454
Pacira Pharm (PCRX) Sanderling Vent Part BO 500,000 9,465,000
Boulder Brands (BDBD) Adage Capital BO 220,683 2,985,435
Corp Office Props (OFC) Hamlin Clay W DIR 108,783 2,941,266
Ixia (XXIA) Addington Hills BO 135,000 2,524,145
Walter Invest. (WAC) Dixon Denmar J VCB,VP,
51,120 2,368,634
American Express (AXP) Schulman Daniel PR 36,390 2,149,506
Scotts Mir Gro (SMG) Hagedorn James CB,CEO,
37,500 1,675,959
IBM (IBM) Weber Robert C VP 7,200 1,473,460
State Street (STT) Klinck John L VP 21,841 1,208,244
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.