Top Insider Trades: SABA ARCP TWOC ZTR

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, April 11, 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 InsiderInsights.com, 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.
Saba Software (SABA) Ardsley Advisory BO 200,000 1,378,000
Amer Rlty Cap (ARCP) Budko Peter M VP,FO 30,001 470,629
Amer Rlty Cap (ARCP) Kahane William DIR 30,000 470,613
Amer Rlty Cap (ARCP) Schorsch Nicholas CB,CEO,DIR 30,000 470,613
Bingo Com (BNGOF) Pendinas BO 1,000,000 450,000
Trans World (TWOC) Miller Lloyd I BO 130,000 328,250
Zweig Tot Ret Fd (ZTR) Neel Carlton VP 15,000 193,050
Opko Health (OPK) Frost Phillip Md CEO,CB,BO 20,000 141,910
Callon (CPE) Newberry Gary VP 27,300 99,645
Westbury Banc (WBB) Lipman Raymond PR,CEO,DIR 5,966 79,586
Source: Insider Insights
Fisher Comms (FSCI) Towerview BO 903,725 36,788,448
Bard C R (BCR) Morfit G Mason DIR 300,000 30,742,000
Conns (CONN) Jacoby Jon E DIR 96,136 4,168,704
Signet Jewelers (SIG) Barnes Michael CEO,DIR 59,340 4,029,186
Liquidity (LQDT) Angrick William CB,CEO,
BO
110,000 3,657,500
Apollo Gl Mgt (APO) Suydam John J LO,CO 100,000 2,650,000
Ren Energy (REGI) West Cent Coop BO 133,400 1,218,300
YELP (YELP) Nachman Joseph VP 41,771 1,106,824
Generac (GNRC) Tabat Dawn COO 30,000 1,061,700
Stryker (SYK) Stryker Ronda E DIR 14,000 934,776
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 InsiderInsights.com, 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 TheStreet.com 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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