Top Insider Trades: DVA ECHO NWS PNNT

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, Feb. 22, 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.
Davita (DVA) Berkshire Hathaway BO 224,091 25,967,566
Calamos (CLMS) Calamos John P Sr CB,CEO,BO 114,957 1,215,350
Terreno (TRNO) Baird Blake CB,CEO,DIR 60,000 996,000
Echo Global (ECHO) Walter John DIR 30,000 598,374
Pennantpark (PNNT) Flug Jeffrey DIR 35,000 398,601
CBL (CBL) Dominski Matthew DIR 15,000 382,500
Pope (POPE) Dahl James BO 3,700 231,702
Guidance (GUID) RGM Capital BO 20,000 196,000
Targa (NGLS) Dreessen Ruth DIR 3,000 121,500
AC Enh Gr & Inc Fd (LCM) Teresko Doug MD 10,100 97,263
Source: Insider Insights
Generac (GNRC) Ccmp Capital BO 20,000,000 692,000,000
TRW (TRW) Automotive Invest BO 9,215,354 544,627,392
Google (GOOG) Schmidt Eric CB,DIR 89,519 71,517,083
News Corp. (NWS) Murdoch Keith CB,CEO,DIR 1,000,000 28,852,586
Danaher (DHR) Culp H Lawrence PR,CEO,DIR 128,000 7,794,995
Valueclick (VCLK) Zarley James CB,DIR 196,770 5,336,403
Facebook (FB) Sandberg Sheryl COO,DIR 176,452 4,875,469
TWX (TWX) Bewkes Jeffrey CB,CEO,DIR 83,588 4,414,283
KKR (KKR) Janetschek William CFO 163,400 2,908,424
WRLD (WRLD) Vassalluzzo Scott BO,DIR 34,477 2,715,792
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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