Top Insider Trades: SD, NATR, WAGE, TIF

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 Tuesday, 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.
Qatar Inv Auth BO 226,714 15,570,718
Nat Sunshine (NATR) Mesdag Willem DIR,BO 60,864 931,884
Cincinnati Bell (CBB) Torbeck Theodore PR,CEO 100,000 332,700
Opko Health (OPK) Frost Phillip MD CEO,CB,BO 42,800 326,479
Graftech Intl (GTI) Shular Craig S CB,CEO,PR 40,000 292,800
Aehr Test Sys (AEHR) Patel Mukesh DIR 250,000 250,000
Aehr Test Sys (AEHR) Anderson Robert DIR 250,000 250,000
RCM Tech (RCMT) OConnell Michael BO 40,565 230,692
Forbes Energy (FES) Steel Excel BO 55,317 201,875
Tri Continental (TY) White Todd O 10,000 174,168
Source: Insider Insights
Wageworks (WAGE) Vantagepoint BO 4,800,000 115,200,000
Apollo RE Adv BO 3,455,496 90,499,440
Brown & Williamson BO 695,350 29,997,400
Sandridge (SD) Ward Tom L CB,CEO,DIR 3,667,000 20,838,116
Blackstone III BO 1,874,229 19,843,400
Pacira Pharm (PCRX) Evnin Luke DIR 500,000 14,220,000
Servicenow (NOW) Moores John J DIR,BO 141,700 5,195,205
Fowler John O 125,000 2,439,850
Drucker Charles PR,CEO,DIR 97,500 2,244,001
Valueclick (VCLK) Hart Martin T DIR 60,000 1,690,200
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.