Top Insider Trades: HLF, JPM, AWAY, SPX

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, May 7, 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.
Relational Investors BO 1,076,616 78,876,480
Herbalife (HLF) Icahn Carl C BO 611,354 24,973,810
JPMorgan (JPM) Crown James S DIR 301,477 14,255,521
Luminex (LMNX) Loewenbaum GW DIR 64,935 1,114,865
Ion Geo
Lapeyre James M Jr DIR 110,000 651,024
Cys Inv (CYS) Hughes Jeffrey DIR 50,000 599,891
Guidance (GUID) RGM Capital BO 56,874 468,941
Audience (ADNC) Palatnik Kevin S CFO 25,000 349,345
Solta (SLTM) Sieczkarek Mark M DIR 150,000 261,000
Opko (OPK) Frost Phillip Md CEO,CB,BO 23,800 159,250
Source: Insider Insights
Ing U S (VOYA) Ing Groep Nv DIR,BO 34,423,076 671,249,984
Lumber Liq (LL) Sullivan Thomas D CB,F,DIR 200,000 16,455,671
Homeaway (AWAY) Av Partners VIII BO 398,350 12,046,104
Aff Mngrs (AMG) Kingston John Iii VCB,GC 46,000 7,079,860
Farrington Deborah DIR 73,235 6,619,727
Acadia (ACHC) Shear Bruce A VCB,DIR 175,000 5,610,119
MSC Ind (MSM) Jacobson Mitchell DIR,BO 53,400 4,257,171
Duranton Philippe VP,HR 82,528 3,323,081
Time Warner (TWX) Cappuccio Paul T VP,GC 50,000 3,031,500
Wynn (WYNN) Chen Linda PR,SO 20,000 2,790,000
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.